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.
This page contains historical news coverage for Foot Locker, Inc. (FL), which operated as the world's largest specialty athletic footwear and apparel retailer before its acquisition by DICK'S Sporting Goods. The company has since been acquired and is no longer publicly traded. This archive provides context on the company's history, business developments, and the events leading to its acquisition.
Foot Locker's news coverage historically included quarterly earnings reports reflecting performance across its retail banners, sneaker launch announcements and exclusive product releases, store expansion and retail concept updates, brand partnership developments with Nike, Jordan, and other athletic footwear companies, and strategic initiatives related to omnichannel retail operations.
The archived news documents the company's trajectory from a dominant sneaker retailer to its eventual combination with DICK'S Sporting Goods. Coverage includes the acquisition announcement, shareholder approval process, and regulatory milestones leading to the transaction's completion. For investors and researchers interested in athletic footwear retail history or the consolidation trends in sporting goods retail, this archive offers valuable perspective on how one of the industry's largest players evolved over time.
Browse the news archive below to understand Foot Locker's business operations, competitive positioning in sneaker culture, and the circumstances surrounding its transition from NYSE-listed company to DICK'S Sporting Goods subsidiary.
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.
Foot Locker, Inc. (NYSE: FL) has declared a quarterly cash dividend of $0.40 per share, set to be paid on October 28, 2022. Shareholders of record by October 14, 2022 will receive this dividend. Operating approximately 2,800 retail stores across 28 countries, Foot Locker is dedicated to promoting youth culture through its diverse brand portfolio, including Foot Locker and Champs Sports. This move signifies the company's ongoing commitment to returning value to its shareholders.
Foot Locker, Inc. (NYSE: FL) will report its second-quarter financial results for the period ending July 30, 2022, before markets open on August 19, 2022. A conference call is scheduled for 9:00 a.m. ET on the same day, where the company will update its business status. An investor presentation will be available on the company’s corporate website prior to the call. Foot Locker operates approximately 2,800 retail stores globally, aiming to inspire youth culture and enhance experiences within the sneaker community.
Champs Sports, part of Foot Locker (NYSE: FL), launched the "Women Win" campaign in partnership with VOICEINSPORT to promote gender equity in sports. Running from July 17-30, the initiative includes events featuring women athletes and collaborations with brands like PUMA and adidas. Champs Sports previously donated $30K to VOICEINSPORT Foundation for Title IX initiatives. The campaign highlights female athletes' contributions, aims to enhance mental health discussions in sports, and will launch a product line with proceeds supporting athlete memberships in VOICEINSPORT.
Foot Locker, Inc. (NYSE: FL) announced the sale of its Team Sales business to BSN SPORTS, a division of Varsity Brands, enhancing its focus on core consumer operations. This unit contributed less than 1% to the company's total sales. The transaction is set to close shortly, although financial details remain undisclosed. Additionally, Foot Locker will fully integrate the Eastbay.com website into its Champs Sports brand, finalizing a merger that began in 2019. The company aims to streamline operations and improve customer engagement.
BSN SPORTS announced the acquisition of Eastbay Team Sales from Foot Locker Retail, Inc., enhancing its position in the school and league markets. Eastbay Team Sales, established in 1980, specializes in athletic footwear and apparel for high school and college athletes. BSN SPORTS, with over 1,100 Field Sales Professionals, aims to integrate Eastbay Team Sales' resources to improve customer service and inventory selection. This move is expected to bolster BSN SPORTS' market presence and operational capabilities as they approach the 2022-2023 school year.
Foot Locker, Inc. (NYSE: FL) has appointed Neil Bansal as Executive Vice President and Chief Strategy & Transformation Officer effective immediately. Bansal, with over 20 years of experience from Constellation Brands and other prominent firms, will oversee the company's global transformation strategy, focusing on customer growth and innovation. CEO Richard Johnson highlighted Bansal's track record in accelerating revenue growth and his addition to the leadership team as a significant asset. Bansal expressed enthusiasm for shaping the company’s future and enhancing customer choices through innovative strategies.
Foot Locker, Inc. (NYSE: FL) will present at the Evercore ISI Consumer and Retail Conference on June 9 at 3:30 p.m. ET. CEO Richard Johnson and CFO Andrew Page will represent the company. A live audio link for the fireside chat is accessible on www.footlocker-inc.com, with a replay available for 90 days after the event. Foot Locker operates approximately 2,800 retail stores in 28 countries, celebrating sneaker and youth culture globally.
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