Foot Locker Inc is a leading global retailer specializing in athletic footwear and apparel. The company operates a wide range of stores, including its flagship Foot Locker brand, as well as Champs Sports, Eastbay, and Footaction, catering to diverse customer preferences. Foot Locker offers an extensive selection of products from top athletic brands, and its stores are designed to create an engaging shopping experience for sports enthusiasts and casual shoppers alike. With a strong emphasis on community involvement and promoting an active lifestyle, Foot Locker also maintains a robust online presence, providing customers with convenient access to the latest trends in sports fashion.
Shares of footwear and apparel retailer Foot Locker (NYSE:FL)
fell 17.3% in the pre-market session after the company reported disappointing third-quarter results: Revenue and EPS in the quarter fell below Wall Street's expectations. The company observed softer consumer spending trends following the peak Back-to-School period in August. Compounding the issue, a more aggressive promotional environment likely weakened its pricing power, adding pressure to margins. Its full-year EPS guidance also missed significantly. Overall, this was a weaker quarter.
Footwear and apparel retailer Foot Locker (NYSE:FL) missed Wall Street’s revenue expectations in Q3 CY2024, with sales falling 1.4% year on year to $1.96 billion. Its non-GAAP profit of $0.33 per share was 18.4% below analysts’ consensus estimates.
Foot Locker, Inc (NYSE: FL) stock tumbled in the premarket session on Tuesday. Reported Q3 adjusted EPS of $0.33, missing analyst estimate of $0.41. Quarterly sales of $1.96B missed street view of $2.02B. Total sales decreased 1.4% YoY. Comparable sales grew by 2.4%.FL stock down 13.7% premarket as Q3 EPS misses $0.33 (est. $0.41) and quarterly sales miss $1.96B (est. $2.02B), with total sales down 1.4% YoY. Comparable sales grow 2.4%.
Nike Inc (NYSE: NKE) reported its fiscal first quarter results this week, topping earnings estimates but falling short on revenue, along with withdrawing guidance and postponing its investor day that was scheduled for November. The sneaker giant is in for a CEO change on October 14th.
Foot Locker shares are trading lower by 3% during Wednesday's session. Shares of footwear and athletic apparel stocks are trading lower in sympathy with Nike.
Nike's tepid returns under John Donahoe have led to a change at its CEO position. The new CEO has a great chance to bring Nike back to what made it great.
