NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Foot Locker, Inc. (NYSE: FL) plans to report financial results for its fourth quarter ended February 1, 2025, before the U.S. markets open on Wednesday, March 5, 2025. A conference call is scheduled for the same day at 8:00 a.m. ET, during which the Company will provide an update on the business.  An investor presentation will be available under the Investor Relations section of the Company's corporate website at footlocker-inc.com before the start of the conference ca ...

Core Insights - Foot Locker, Inc. is returning to NBA All-Star 2025 in San Francisco, reinforcing its leadership in basketball culture through a multi-brand activation featuring exclusive sneaker drops and community engagement [1][2] - The immersive experience will include appearances from NBA stars, interactive games, and exclusive product customization, aimed at connecting with the basketball community [1][3] Company Overview - Foot Locker operates approximately 2,500 retail stores across 26 countries, showcasing a strong history in sneaker culture and authority [7] - The company aims to deepen its connection with consumers through an elevated experience at NBA All-Star 2025, featuring high-profile product releases and athlete appearances [5][6] Event Details - The activation will take place at 150 Powell Street in San Francisco's Union Square from February 13 to February 16, 2025, with specific hours for public access [6] - Featured product releases include the Nike Kobe VI "ASW," Jordan Retro 12 Flu Game, and exclusive colorways of the adidas Anthony Edwards 1 Mid [2][4] Community Engagement - Foot Locker will donate $25,000 to both Morehouse College and Tuskegee University as part of its partnership with the 2025 NBA HBCU Classic [5] - The event will include multiple sweepstakes for local FLX Rewards members, offering chances to win customized merchandise and exclusive giveaways [3][5]

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 ...

Financial Data and Key Metrics Changes - In Q3 2024, total sales decreased by 1.4%, while comparable sales increased by 2.4%, consistent with Q2 results but below expectations [64][65] - Gross margin expanded by 230 basis points year-over-year to 29.6%, driven by improved merchandise margins [66][67] - Non-GAAP earnings per share were $0.33, up from $0.30 last year but below the guidance of approximately $0.40 [12][64] Business Line Data and Key Metrics Changes - Foot Locker and Kids Foot Locker banners saw comparable sales increase of 2.8%, while Champs Sports and WSS banners returned to positive territory with increases of 2.8% and 1.8%, respectively [9][64] - The Apparel business faced challenges with comparable sales down in the low 20s, while Accessories comped up high-single digits [50][51] - Digital comparable sales increased by 3.6%, with digital penetration rising to 17.6% of total sales [38][53] Market Data and Key Metrics Changes - In North America, overall comparable sales were up 2.1%, with Foot Locker North America up 1.6% and Kids Foot Locker up 3.2% [54][55] - European comparable sales increased by 6.4%, while Asia-Pacific saw a decline of 7.3% [60][62] - The promotional environment was elevated, particularly in digital and apparel categories, impacting overall performance [61][64] Company Strategy and Development Direction - The company is committed to its Lace Up Plan, aiming for an EBIT margin target of 8.5% to 9% by 2028 [14][80] - Focus on expanding sneaker culture through partnerships with brands like Nike and Adidas, and enhancing store experiences with reimagined concepts [15][25] - The company plans to open 27 new stores while closing approximately 130, resulting in a projected 4% decrease in store count for 2024 [74][80] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding consumer spending behavior, noting a pullback in discretionary spending ahead of holiday events [10][12] - The company anticipates continued elevated promotional activity through the holiday season, impacting margin recovery [14][78] - Despite challenges, management remains optimistic about ongoing positive comparable sales and gross margin expansion [40][80] Other Important Information - The company completed 167 store refreshes in Q3, with a goal of approximately 400 for the year [28] - A $25 million non-cash impairment charge was taken against the atmos tradename, reflecting moderated growth expectations [71][73] - The loyalty program accounted for 27% of sales in Q3, up 4 points from the previous year [35] Q&A Session Summary Question: Can you speak to the balance between sales and margin in the quarter? - Management acknowledged progress on the Lace Up Plan but noted that performance fell below expectations due to macroeconomic factors and elevated promotions [82][86] Question: Did weather impact apparel sales? - Management indicated that while weather was not a significant factor, the apparel category lacked innovation, which affected sales [90][92] Question: What should be considered for fourth quarter guidance? - Management confirmed that the fourth quarter guidance aligns with recent trends, with expectations for improved launch calendars and continued promotional activity [99][103] Question: What is working for Champs and WSS? - Champs has seen positive results from its repositioning towards active athletes, while WSS is focusing on value propositions for lower-income consumers [108][112]

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 ...