Foot Locker Inc Stock Price, News & Analysis

Foot Locker, Inc. (NYSE: FL) has declared a quarterly cash dividend of $0.15 per share, set to be paid on January 29, 2021, to shareholders on record by January 15, 2021. This decision reflects the company's ongoing commitment to return value to its shareholders. Operating approximately 3,100 retail stores globally, Foot Locker continues to lead in sneaker and youth culture through its diverse portfolio of brands.

Foot Locker, Inc. (NYSE: FL) will report its third-quarter financial results on November 20, 2020, before U.S. markets open. A conference call is scheduled for 9:00 a.m. ET on the same day, where the company will discuss its business performance. Participants can pre-register for the call or join via dial-in numbers. Foot Locker operates around 3,100 stores across 27 countries, promoting sneaker and youth culture through various brands. Investors can access the call via webcast and archived playback post-event.

Foot Locker has launched The Endless World of Air Max, a dynamic sneaker culture hub on Google Slides, in collaboration with Nike. This interactive platform will feature events like Air Max Trivia, master classes, and art competitions, designed to engage sneaker enthusiasts. The hub serves as a central location for the latest Nike Air Max drops and includes links for purchasing new releases. Created by BBDO NY, this project aims to celebrate Air Max culture while providing a fun shopping experience for the sneaker community.

Footaction has partnered with Reggaeton artists Myke Towers, Brytiago, Arcangel, and De La Ghetto to celebrate Hispanic Heritage Month.

The initiative, titled La Música, showcases the impact of Reggaeton on youth culture and its connection to sneaker style. The campaign includes a docu-style short film featuring both emerging and established artists discussing their influences and styles. Footaction aims to honor Hispanic culture while engaging with today's Latinx youth through music and fashion, solidifying its role within the global sneaker community.

Foot Locker, Inc. has partnered with Rock the Vote to transform over 2,000 retail locations into voting registration sites, aiming to engage young voters. With four million first-time voters this November, the initiative emphasizes civic participation among Gen Z. Launching on National Voter Registration Day (Sept. 22), customers can access a digital hub for registration services. Rock the Vote reported 870,000 new registrations this year. Foot Locker also commits to supporting employees with flexible hours for voting.

Foot Locker has opened its first West Coast community-based Power Store in Compton, California, on August 26, 2020. Spanning 12,800 square feet, the store focuses on an immersive shopping experience, featuring exclusive products and local artwork. The company aims to support the community by hiring locally and hosting events, including a 'Home Grown' celebration and 'Good Will Day.' The store will also offer products from major brands like Nike and Jordan, along with local collaborations. This opening follows successful launches in multiple cities worldwide.

Foot Locker reported Q2 2020 net income of $45 million ($0.43 per share), down from $60 million ($0.55 per share) year-over-year. Non-GAAP earnings rose to $0.71 per share, up from $0.66 in 2019. Total sales increased by 17.1% to $2.08 billion, with comparable-store sales up 18.6%. The gross margin fell to 25.9% from 30.1%. The Board reinstated a quarterly dividend of $0.15 per share, payable on October 30, 2020. Year-to-date, Foot Locker experienced a net loss of $65 million compared to a profit in the prior year, with significant sales declines.