Streetbeat News

Foot Locker, Inc.

Industry

Apparel - Retail

Foot Locker, Inc., through its subsidiaries, operates as an athletic footwear and apparel retailer. The company engages in the retail of athletic footwear, apparel, accessories, equipment, and team licensed merchandise under the Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Eastbay, atmos, WSS, Footaction, and Sidestep brand names. As of January 29, 2022, it operated 2,858 retail stores in 28 countries across the United States, Canada, Europe, Australia, New Zealand, and Asia; and 142 franchised Foot Locker stores located in the Middle East and Asia. The company also offers its products through various e-commerce sites and mobile apps. Foot Locker, Inc. was founded in 1879 and is headquartered in New York, New York.

Open

23.80

Mkt cap

2.2B

Volume

High

23.89

P/E Ratio

-6.08

52-wk high

35.60

Low

23.20

Div yield

N/A

52-wk low

20.47

The CNN Money Fear and Greed index indicated a slight improvement in market sentiment, remaining in the 'Greed' zone. U.S. stocks closed higher, with the Dow Jones, S&P 500, and Nasdaq Composite all recording gains. Campbell Soup Company reported better-than-expected Q2 earnings, while Foot Locker's shares plummeted after its Q4 results. The U.S. job market showed growth, but slightly below expectations. Sectors like information technology, utilities, and consumer staples led gains, whereas communication services and consumer discretionary sectors fell. Investors are looking forward to earnings results from The Kroger Co., Costco Wholesale Corporation, and Ciena Corporation.

Portfolio Pulse from Avi Kapoor

March 07, 2024 | 7:53 am

Markets rallied following Fed Chair Jerome Powell's reassurances about easing monetary policy in 2024 if inflation targets are met. The Nasdaq 100 led gains among major indices. The iShares Russell 2000 ETF, Nvidia, and the SPDR Gold Trust were among the notable performers. Other assets like Bitcoin also saw increases. Several companies reacted to earnings reports, with CrowdStrike and Palantir Technologies seeing significant gains, while New York Community Bancorp and Nordstrom faced steep declines.

Portfolio Pulse from Piero Cingari

March 06, 2024 | 7:24 pm

In Wednesday's intraday session, several consumer discretionary stocks experienced significant movements. Notably, American Public Education, Hesai Gr, JD.com, and European Wax Center saw their shares rise following their Q4 earnings reports, with increases of 33.9%, 19.05%, 17.07%, and 16.25% respectively. Conversely, Foot Locker, J-Long Group, ZHONGCHAO, and Nordstrom faced declines, with Foot Locker and Nordstrom's drops attributed to their Q4 earnings releases.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 5:31 pm

U.S. stocks traded higher with the Nasdaq Composite gaining over 100 points. Energy shares jumped by 1.2% as U.S. crude oil inventories climbed less than expected. Aptorum Group, TRxADE HEALTH, and American Public Education saw significant gains, while Entravision Communications, Neptune Wellness Solutions, and Foot Locker experienced sharp declines. Oil prices rose 2.7% to $80.26, and gold increased by 0.6%.

Portfolio Pulse from Avi Kapoor

March 06, 2024 | 4:57 pm

Foot Locker has revised its FY24 adjusted EPS forecast to $1.50-$1.70, down from the estimated $1.93, while expecting comparable sales to increase by 1-3%.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 2:16 pm

Telsey Advisory Group analyst Joseph Feldman reiterates an Outperform rating on Foot Locker (NYSE:FL) and maintains a $38 price target.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 2:04 pm

Foot Locker Inc (NYSE:FL) reported Q4 FY23 sales of $2.38 billion, surpassing analyst estimates of $2.28 billion, with a 2% year-on-year growth. However, comparable store sales fell by 0.7%, and adjusted EPS of $0.38 beat the consensus of $0.32. The company experienced a gross margin contraction of 350 basis points due to higher markdowns, despite occupancy leverage. Operating income declined by 44% to $33 million, with a 1.4% operating margin. Foot Locker opened 29 new stores, remodeled or relocated 66, and closed 113 stores. For FY24, it forecasts comparable sales growth of 1% to 3% and expects sales to range between -1% and +1%, with adjusted EPS of $1.50 to $1.70, below the consensus of $1.93. Shares dropped 12.5% to $30.01 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 06, 2024 | 1:44 pm

In Wednesday's pre-market session, several consumer discretionary stocks showed significant movement. EVgo, J-Long Group, JD.com, RealReal, Duluth Holdings, and ToughBuilt Industries were among the gainers, with EVgo leading with a 15.1% increase following their Q4 earnings release. On the downside, Thor Industries, Foot Locker, Nordstrom, Winnebago Industries, EpicQuest Education Group, and Brilliant Earth Group faced declines, with Thor Industries dropping 17.5% after their Q2 earnings announcement.

Portfolio Pulse from Benzinga Insights

March 06, 2024 | 1:08 pm

Foot Locker shares are trading lower following the announcement of their Q4 financial results.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 12:29 pm

Foot Locker forecasts an adjusted EPS of $1.50-$1.70 for FY24, surpassing the estimated $1.35. The company also expects comparable sales to increase by 1-3%.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 11:47 am

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