Foot Locker Inc Stock Price, News & Analysis

Foot Locker, Inc. (NYSE: FL) has released its FY2019-20 Impact Report, detailing its environmental, social, and governance (ESG) initiatives. CEO Richard Johnson emphasized that corporate social responsibility is integral to the company's operations. Key highlights include the formation of a global ESG team, participation in the Carbon Disclosure Project, and a commitment of $200 million over five years to support the Black workforce through the LEED initiative. The report also discusses diversity strategies and aligns ESG disclosures with SASB and TCFD standards.

Foot Locker, Inc. (NYSE: FL) announced the appointment of Andrew E. Page as Executive Vice President and Chief Financial Officer, effective April 12, 2021. With nearly 30 years of finance and accounting experience, Page previously held key roles at Advance Auto Parts and Under Armour. He will oversee key financial functions and work with the executive team to advance the company's growth strategies. His appointment follows the retirement of Lauren B. Peters.

Foot Locker has appointed Melody Ehsani as Creative Director of its women's business to enhance brand engagement with female consumers. Ehsani, known for her streetwear brand ME., will design quarterly apparel collections and curate Nike and Jordan products. The first collection launches in Summer 2021 across the U.S., Canada, and select locations in Europe and Asia Pacific. The initiative includes a digital crowd-sourcing program for pop-up shops to provide consumers early access to collections. This move underscores Foot Locker's commitment to empowering women and fostering cultural impact.

Foot Locker reported Q4 2020 net income of $123 million, or $1.17 per share, marking a 7.9% EPS decline from the prior year. Total sales fell 1.4% to $2,189 million. Non-GAAP EPS was $1.55, down 4.9%. Fiscal 2020 sales were $7,548 million, a 5.7% decrease, with net income down 34.2% to $323 million. The company increased its quarterly dividend by 33% to $0.20 per share and returned $110 million to shareholders. 2021 guidance is not provided due to COVID-19 uncertainty. As of Jan 30, 2021, Foot Locker operated 2,998 stores globally.

Foot Locker, Inc. (NYSE: FL) has announced a $275 million capital expenditure program for 2021, significantly higher than the $155 million in 2020, aimed at enhancing its digital capabilities and global supply chain. Additionally, the Board declared a quarterly dividend of $0.20 per share, a 33% increase from the previous $0.15, payable on April 30, 2021. These initiatives reflect the Board's confidence in the company's growth and commitment to shareholder returns, despite ongoing pandemic uncertainties.

Foot Locker has launched 'The Sole List' to honor Black innovators in sneaker culture for Black History Month. This initiative highlights the contributions of the Class of 2021, showcasing how these individuals influence cultural conversations and open doors through collaborations. Vice President Jason Brown emphasized the company's commitment to driving change, building on a $200 million commitment over five years to support the Black community. The honorees will be featured across Foot Locker's social channels, celebrating their achievements in the sneaker and broader cultural landscapes.

Foot Locker plans to report its fourth quarter financial results for the period ending January 30, 2021 before the market opens on February 26, 2021. A conference call will occur that day at 9:00 a.m. ET, where the company will provide a business update. Stakeholders are encouraged to pre-register for the call for immediate access. Foot Locker operates nearly 3,000 stores across 28 countries, fostering youth culture through various sneaker brands.

Foot Locker, Inc. (NYSE: FL) announced the appointment of Himanshu Parikh as Senior Vice President and Chief Information Officer, effective December 11, 2020. Parikh will lead the company's technology strategy and operations, enhancing its omni-channel initiatives. With over 25 years of experience, including his recent role at The Michaels Companies, Parikh is expected to drive technology transformation and improve customer experiences. His prior work includes significant contributions to digital commerce and supply chain expansion. Foot Locker operates approximately 3,000 retail stores globally, enhancing youth culture through its brands.

Foot Locker, Inc. (NYSE: FL) announced a short-term shareholder rights plan to protect against unwarranted control through open market accumulation. This decision follows significant stock accumulation by Vesa Equity Investment, which now owns 12.2% of the company's common stock. The rights will become exercisable if ownership exceeds 20%. The plan, adopted on December 4, 2020, is effective immediately and valid for one year, expiring on December 7, 2021. Additional details will be provided in a Form 8-K with the SEC.