Welcome to our dedicated page for Foot Locker news (Ticker: FL), a resource for investors and traders seeking the latest updates and insights on Foot Locker stock.
Foot Locker, Inc. operates as a footwear, apparel, and accessories retailer with banners that include WSS and Champs Sports. Company news has covered sneaker and streetwear collaborations, back-to-school campaigns, athlete and cultural partnerships, and store-experience updates such as the reimagined Champs Sports retail concept.
Recurring updates also include operating and financial results, material agreements, shareholder voting matters, governance, capital-structure disclosures, and corporate-status developments following Foot Locker's completed merger into a wholly owned subsidiary of DICK'S Sporting Goods.
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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.
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Foot Locker, Inc. (NYSE: FL) reported a strong second quarter of 2020 with comparable store sales rising by approximately 18%. Diluted earnings per share are projected between $0.38 and $0.42, down from $0.55 last year, but adjusted earnings are expected to remain stable at $0.66 to $0.70. The company faced $37 million in pre-tax charges related to restructuring and social unrest. Despite gross margin pressures, the firm is optimistic about customer demand and digital sales momentum. Full-year guidance remains suspended due to COVID-19 uncertainties.
Foot Locker launches its "Summer Sizzle" campaign, a virtual celebration focusing on community and sneaker culture. The event, scheduled for June 29, 2020, is hosted in partnership with The Infatuation and features guests like professional athlete Jordan Clarkson and Nike Master Trainer Kirsty Godso. Attendees can engage in a live Q&A and a sweepstakes for a chance to win exclusive sneakers. The campaign highlights Foot Locker's diverse product range from leading brands, available for all family members.