Foot Locker Inc Stock Price, News & Analysis

Foot Locker (NYSE: FL) is celebrating its 50th anniversary this September with a month-long series of events and the launch of a -edition sneaker and apparel collection. The collection, created in partnership with Nike, adidas, New Balance, PUMA, and Converse, features distinctive black and white colorways with gold accents.

Highlights of the celebration include:

• Exclusive footwear and apparel collection available from September 9
• Various events in New York City, including a performance by GRAMMY-nominated artist Coi Leray
• NYSE Opening Bell® Ceremony on September 5
• 360-marketing campaign launch on September 9

Foot Locker is also advancing its Lace Up Plan, focusing on expanding sneaker culture, deepening customer relationships, and enhancing its omnichannel experience. The company aims to drive sustainable growth through reimagined retail concepts, an enhanced FLX Rewards Program, and a soon-to-be-launched redesigned mobile app.

Foot Locker, Inc. (NYSE: FL) announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference on September 4, 2024, at 2:35 p.m. ET. Mary Dillon (President and CEO), Frank Bracken (EVP and Chief Commercial Officer), and Mike Baughn (EVP and CFO) will engage in a fireside chat. The event will be webcast live on Foot Locker's Investor Relations website, with a 90-day replay available.

Foot Locker is a leading footwear and apparel retailer with approximately 2,500 stores across 26 countries. The company operates under various brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos, catering to sneaker enthusiasts worldwide.

Foot Locker, Inc. (NYSE: FL) reported Q2 2024 financial results, showing a return to growth with total sales up 1.9% to $1,896 million and comparable sales up 2.6%. The company achieved gross margin expansion of 50 basis points year-over-year. However, it reported a loss of $0.13 per share and a non-GAAP loss of $0.05 per share. Inventory decreased 10.0% year-over-year.

Foot Locker reaffirmed its full-year 2024 non-GAAP EPS outlook of $1.50 to $1.70. The company announced strategic updates, including streamlining international operations and optimizing corporate office footprint. Notably, Foot Locker plans to relocate its global headquarters to St. Petersburg, Florida in late 2025 and open a Global Technology Services Hub in Dallas, Texas in September.

Foot Locker (NYSE: FL), the specialty athletic retailer, will report its second quarter financial results for the period ended August 3, 2024, on Wednesday, August 28, 2024, before U.S. markets open. A conference call is scheduled for 9:00 a.m. ET the same day to provide a business update. An investor presentation will be available on the company's website prior to the call. Participants can pre-register for the call or dial in directly. A live webcast and archived replay will be accessible on Foot Locker's corporate website.

Foot Locker operates approximately 2,500 retail stores across 26 countries in North America, Europe, Asia, Australia, and New Zealand, with a licensed presence in the Middle East and Asia. The company's portfolio includes brands such as Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.

Foot Locker (NYSE: FL) has relaunched its FLX Rewards program, introducing FLX Cash for discounts and exclusive member benefits such as priority access to sneaker launches, exclusive sales, member-only events, free returns, upgraded birthday gifts, and complimentary shipping. The tiered program offers Xtra Savings, Xtra Access, and Xtra Perks. Foot Locker targets a 50% loyalty penetration by 2026, with a long-term goal of 70%, following a successful pilot in Canada in 2023.

Additionally, Foot Locker plans to upgrade its mobile app, featuring real-time launch updates, improved search functionality, biometric authentication, and seamless integration with FLX rewards. By early 2025, a new ‘Store Mode’ will allow in-store product scanning and availability checks. These initiatives are part of Foot Locker's Lace Up Plan, aimed at deepening customer relationships and enhancing its omnichannel presence.

Foot Locker (NYSE: FL) reported its Q1 2024 financial results, showing a total sales decline of 2.8% to $1,874 million compared to the same period last year. Comparable sales fell by 1.8%, influenced by a 220 basis-point impact from repositioning the Champs Sports banner. Global and Kids Foot Locker saw a 1.1% increase in comparable sales. The company posted an EPS of $0.09 and a Non-GAAP EPS of $0.22. Inventory decreased by 5.6% year-over-year. Despite the dip in sales, Foot Locker reaffirmed its full-year 2024 outlook, expecting Non-GAAP EPS of $1.50-$1.70. The first quarter net income was $8 million, down from $36 million in the prior year. Gross margin declined by 120 basis points while SG&A expenses increased by 220 basis points. Foot Locker operated 2,490 stores as of May 4, 2024, after opening 4 new stores and closing 37 in the first quarter.

Foot Locker, Inc. (NYSE: FL) to reveal first-quarter financial results on May 30, 2024, with a conference call and investor presentation. The company, a prominent athletic retailer with a global presence, will provide updates on its business performance.