Foot Locker Inc Stock Price, News & Analysis

Foot Locker, Inc. (NYSE: FL) announced that its leadership team, including CEO Mary Dillon, CCO Frank Bracken, and Interim CFO Robert Higginbotham, will present at the J.P. Morgan 9th Annual Retail Round Up Conference on March 30, 2023, at 11:00 a.m. ET. An audio link to the presentation will be available on footlocker-inc.com and will remain accessible for 90 days. Foot Locker operates approximately 2,700 stores in 29 countries, promoting sneaker culture through its well-known brands such as Foot Locker and Champs Sports.

Foot Locker reported its fourth quarter and fiscal year results ending January 28, 2023, highlighting a 4.2% increase in comparable-store sales despite a 0.3% decline in total sales to $2,334 million. Fourth quarter EPS decreased to $0.20 and Non-GAAP EPS to $0.97. The company is launching a new 'Lace Up' strategy aimed at long-term growth, with a projected Non-GAAP EPS for 2023 of $3.35-$3.65. Inventory levels rose by 29.8% to $1.6 billion, and the company plans to streamline operations in Asia while focusing on core markets. Dividends of $0.40 per share will be paid on April 28, 2023.

Foot Locker, Inc. (NYSE: FL) announced a quarterly cash dividend of $0.40 per share on February 15, 2023. This dividend will be paid on April 28, 2023 to shareholders who are on record as of April 14, 2023. The company continues to emphasize its commitment to youth culture and self-expression through its extensive retail network, which includes approximately 2,800 stores in 28 countries worldwide, as well as online platforms. Foot Locker operates multiple brands such as Foot Locker, Kids Foot Locker, Champs Sports, and others, catering to the sneaker community globally.

Foot Locker, Inc. (NYSE: FL) will report its fourth quarter financial results on March 20, 2023, prior to the U.S. market opening. The announcement will be followed by an Investor Day event in New York City, featuring President and CEO Mary Dillon and senior leadership discussing long-term strategic priorities, growth initiatives, and 2022 results. A live webcast will be available on the company's investor relations website. Foot Locker operates approximately 2,700 retail stores in 28 countries, focusing on youth culture and sneaker community engagement.

Foot Locker has announced key leadership changes, effective December 1, 2022, aimed at enhancing growth and operational efficiency. Frank Bracken is appointed Chief Commercial Officer, overseeing merchandising and digital operations, while Elliott Rodgers joins as Chief Operations Officer, focusing on supply chain and IT. Andrew Page will step down as Chief Financial Officer after the fourth quarter earnings report, with a search for his successor underway. Rosalind Reeves is promoted to Chief Human Resources Officer, and Robert Higginbotham to Senior Vice President of Investor Relations.

Foot Locker reported third-quarter results showing resilience amid macroeconomic challenges, with sales slightly down by 0.7% at $2.173 billion. Non-GAAP EPS was $1.27, compared to $1.74 in the prior year. Comparable-store sales rose 0.8% year-over-year. The company raised its full-year EPS guidance to $4.42-$4.50, reflecting a positive outlook despite a decline in gross margins due to increased promotional activity. Inventories increased 29.5% to $1.685 billion, positioning the company for holiday demand. Cash stood at $351 million, while debt reached $454 million.