Foot Locker results show the sneaker industry — and Nike — still have more pain ahead

Foot Locker said Wednesday it expects another year of deep discounts in the sneaker industry as its largest brand partner Nike continues its reset and relies on markdowns to clear through stale inventory. The footwear giant delivered mix results for its holiday quarter, beating Wall Street's expectations on earnings but falling short on sales. In the year ahead, it anticipates that trend will reverse. For fiscal 2025, Foot Locker is expecting profits to be lower than Wall Street estimated, while the high en ...