Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year

Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. FL with a Buy rating and a price forecast of $27. The analyst writes that Foot Locker is positioned for an earnings recovery in 2025, with improvements expected from a strengthened Nike, Inc partnership, growth in non-Nike brands, recent SG&A investments, and the recovery of merchandise margins. Despite a current lull post-back-to-school, the analyst expects trends to pick up after Thanksgiving and is encouraged by a recent consumer survey in ...