Earnings Performance - Foot Locker's Q3 2024 earnings missed expectations with adjusted EPS of 33 cents, below the Zacks Consensus Estimate of 39 cents, though it increased from 30 cents in the prior-year quarter [5] - Total revenues decreased by 1.4% year-over-year to $1,961 million, missing the Zacks Consensus Estimate of $2,001 million [6] - Comparable sales increased by 2.4% year-over-year, driven by a 2.8% increase in global Foot Locker and Kids Foot Locker sales [6] Margins and Expenses - Gross margin rate increased by 230 basis points (bps) due to lower markdown levels [7] - SG&A expenses as a percentage of sales increased by 210 bps, driven by investments in technology and brand-building, partially offset by cost-optimization savings [7] Store Operations and Expansion - In Q3, the company opened 10 new stores, closed 24 stores, remodeled or relocated 20 stores, and modernized 167 stores to align with updated design standards [8] - As of November 2, 2024, Foot Locker operated 2,450 stores across 26 countries, with 214 franchised stores in the Middle East and Asia [9] Financial Position - The company ended Q3 with $211 million in cash and cash equivalents, long-term debt and finance lease obligations of $440 million, and shareholders' equity of $2.87 billion [10] - Merchandise inventories decreased by 6.3% year-over-year to $1.74 billion [11] Guidance and Outlook - Q4 2024 guidance projects a revenue decline of 3.5% to 1.5%, with comparable sales growth of 1.5% to 3.5% [12] - Full-year 2024 revenue is expected to decline by 1.5% to 1%, with comparable sales growth narrowed to 1-1.5% [13] - Gross margin guidance for 2024 was lowered to 28.7-28.8% due to a more promotional environment [14] - Adjusted EPS guidance for 2024 was revised downward to $1.20-$1.30 from $1.50-$1.70 [15] Industry Comparison - Urban Outfitters, another player in the Retail - Apparel and Shoes industry, reported Q3 2024 revenues of $1.36 billion, a 6.3% year-over-year increase, with EPS of $1.10 compared to $0.88 a year ago [19] - Urban Outfitters is expected to post Q4 earnings of $0.87 per share, a 26.1% increase from the year-ago quarter, with a Zacks Rank 1 (Strong Buy) [20] Market Performance and Estimates - Foot Locker's shares gained 2.4% over the past month, outperforming the S&P 500 [1] - Consensus estimates for Foot Locker have trended downward, with a -23.26% revision over the past month [16] - The stock has a Zacks Rank 3 (Hold) and an aggregate VGM Score of B, with a strong Growth Score of A but a weak Momentum Score of F [17][18]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended: November 2, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number: 1-10299 (Exact name of registrant as specified in its charter) New York 13-3513936 (Stat ...

Long-only investment, evaluating companies from an operational, buy-and-hold perspective.Quipus Capital does not focus on market-driven dynamics and future price action. Instead, our articles focus on operational aspects, understanding the long-term earnings power of companies, the competitive dynamics of the industries where they participate, and buying companies that we would like to hold independently of how the price moves in the future. Most QC calls will be holds, and that is by design. Only a very sm ...

Foot Locker, Inc. (FL) posted third-quarter fiscal 2024 results, with both bottom and top lines lagging the Zacks Consensus Estimate. The company’s revenues decreased and earnings increased from the year-ago quarter. The company saw positive comparable sales trends and gross margin expansion, but third-quarter performance fell short due to softened consumer spending after the Back-to-School period and a more promotional environment. Progress continued with the Lace Up Plan and partnerships, including the 'H ...

Foot Locker shares fell on Wednesday after the retailer severely missed Wall Street's quarterly earnings estimates and cut its full-year sales and earnings forecast.  The retailer's stock fell by as much as 16% during morning trading as the company reported that it incurred a loss of $33 million, or 34 cents per share, for the three-month period ending on Nov. 2. That's down significantly from the $28 million it reported in the same period a year ago. Total sales for the quarter slipped 1.4% to $1.96 billio ...

Foot Locker, Inc. (NYSE: FL ) operates 2450 footwear retail stores across 26 countries under the Foot Locker, Champs Sports, WSS, and atmos brands. In addition, the company has 214 licensed stores across the Middle East and Asia with the brands.I am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understand ...

Foot Locker, Inc. (NYSE:FL) Q3 2024 Earnings Call Transcript December 4, 2024 9:00 AM ET Company Participants Robert Higginbotham - SVP, Corporate Finance, Investor Relations & Treasurer Mary Dillon - President & Chief Executive Officer Frank Bracken - Executive Vice President & Chief Commercial Officer Mike Baughn - Executive Vice President & Chief Financial Officer Conference Call Participants Tom Nikic - Needham Michael Binetti - Evercore ISI Janine Stichter - BTIG Kelly Crago - Citi Cristina Fernandez - ...

Foot Locker shares plunged 14.3% on Wednesday after the company reported earnings that missed estimates and slashed its yearly forecast on soft holiday demand – with the chief executive calling out Nike products in particular. Mary Dillon, the former Ulta Beauty boss who took over Foot Locker in 2022, blamed the earnings misses on soft demand for Nike sneakers and more promotions than expected across the industry.“There are definitely some brands that we’re seeing comp gains, and then, you know, we’re also ...

Foot Locker (FL) reported $1.96 billion in revenue for the quarter ended October 2024, representing a year-over-year decline of 1.4%. EPS of $0.33 for the same period compares to $0.30 a year ago.The reported revenue represents a surprise of -2.00% over the Zacks Consensus Estimate of $2 billion. With the consensus EPS estimate being $0.39, the EPS surprise was -15.38%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

Foot Locker (FL) came out with quarterly earnings of $0.33 per share, missing the Zacks Consensus Estimate of $0.39 per share. This compares to earnings of $0.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -15.38%. A quarter ago, it was expected that this shoe store would post a loss of $0.08 per share when it actually produced a loss of $0.05, delivering a surprise of 37.50%.Over the last four quarters, the company has su ...