Foot Locker Inc Stock Price, News & Analysis

Foot Locker, Inc. (NYSE: FL) has declared a quarterly cash dividend of $0.40 per share, payable on January 27, 2023. Shareholders recorded by January 13, 2023 are eligible to receive this dividend. The company, headquartered in New York, operates approximately 2,800 retail stores across 28 countries and aims to inspire youth culture through its diverse brand portfolio, including Foot Locker and Kids Foot Locker. The announcement reflects the company's commitment to rewarding its shareholders amidst its global operations in the sneaker retail market.

PUMA and Foot Locker (NYSE: FL) have announced an expanded partnership focused on basketball, launching exclusive product collections aimed at Gen Z and Gen Alpha. The collaboration includes the LaMelo Ball Signature program, a PUMA x POKÉMON partnership, and upcoming collections with Mikey Williams and Dixie D’Amelio. This initiative aims to enhance brand engagement through creator collaborations and marketplace exclusivity, catering to a younger audience while further solidifying Foot Locker’s position in the athletic retail sector.

Foot Locker has launched its global Holiday 2022 campaign, the Foot Locker Holiday House Party, featuring popular musicians like BIA, Yung Gravy, and Lunay. The campaign, filmed by attendees using iPhones, showcases a series of celebratory events and highlights Foot Locker's role as a top sneaker destination. A 24-hour global celebration will take place on December 16 across cities like Seoul, Paris, New York, and Los Angeles. The event emphasizes Foot Locker's extensive product offerings, including major brands such as Nike, Jordan, and adidas, aimed at enhancing the holiday shopping experience.

Foot Locker, Inc. (NYSE: FL) will report its third quarter financial results for the period ended October 29, 2022, on November 18, 2022, before U.S. markets open. A conference call is scheduled for the same day at 9:00 a.m. ET to discuss the business outlook. An investor presentation will be made available on the company's website prior to the call. Pre-registration for the call is encouraged to facilitate access. Foot Locker operates approximately 2,800 stores across multiple regions, aiming to inspire youth culture through its extensive portfolio of brands.

Foot Locker (NYSE: FL) has released its FY21 Impact Report, underscoring its commitment to Environmental, Social, and Governance (ESG) initiatives. Key highlights include a pledge to achieve Net Zero GHG emissions by 2050 and a $200 million investment over five years to enhance the lives of its team members and the Black community, with nearly $54 million already allocated. The company emphasizes ongoing improvements in diversity, equity, inclusion, and sustainability within its operations. The report features independent assurance of certain ESG metrics.

Foot Locker, Inc. (NYSE: FL) announced an employment inducement award for new President and CEO Mary N. Dillon, effective September 1, 2022. The package consists of a $2 million RSU vesting in three years, a $5 million PSU based on performance metrics, and an annual grant valued at $8 million. These awards were approved without requiring shareholder approval under NYSE rules. Foot Locker operates about 2,800 stores worldwide, focusing on youth culture and sneaker community engagement.

Foot Locker has announced a long-term partnership with Fanatics to enhance its online merchandise offerings. Effective this fall, shoppers at Foot Locker’s websites will gain access to a broad range of officially licensed sports merchandise from top leagues such as NFL, NBA, and MLB. This partnership aims to enrich the customer experience by leveraging both companies' strengths in sneaker culture and sports merchandising. The collaboration is expected to enhance Foot Locker’s omni-channel strategy and provide an extensive selection of fan gear for all family members.

Foot Locker announced a significant leadership transition with Richard A. Johnson retiring as President and CEO on September 1, 2022. Mary N. Dillon, formerly of Ulta Beauty, will take over as CEO. The Board also announced that Dona D. Young will assume the role of non-Executive Chair effective February 1, 2023. Johnson's tenure saw sales growth to approximately $9 billion in 2021, up from $7 billion in 2014, and a focus on digital transformation and brand diversification. The smooth transition is part of a strategic succession planning process emphasizing strong governance.

Foot Locker reported its second quarter results for 2022, showing a net income of $94 million, or $0.99 per share, down significantly from $430 million, or $4.09 per share, in 2021. Total sales were $2,065 million, a 9.2% decrease compared to the previous year. Comparable store sales fell 10.3%. Non-GAAP EPS was $1.10, down from $2.09. Inventory was up 52% year-over-year, positioning the company for the Back-to-School season. Foot Locker expects to meet the lower end of its original earnings guidance, citing expected macroeconomic pressures.