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

Nike reported better-than-expected earnings but missed sales expectations for Q2, causing its shares to fall 11.4% in pre-market trading. The company is exploring ways to achieve $2 billion in cost savings over the next three years. Other stocks such as NetEase, TAL Education Group, Nanobiotix, Bilibili, LexinFintech, HUYA, Gaotu Techedu, New Oriental Education & Technology Group, Foot Locker, and Under Armour also saw declines in pre-market trading, with NetEase and Bilibili affected by China's new draft rules on gaming.

Portfolio Pulse from Avi Kapoor

December 22, 2023 | 10:54 am

Wall Street's most accurate analysts recommend three consumer stocks with over 5% dividend yields: Ford Motor Company (F), Hasbro, Inc. (HAS), and Foot Locker, Inc. (FL). Ford is facing a production cut for its F-150 Lightning electric pickup, Hasbro is restructuring for growth, and Foot Locker reported strong Q3 results with updated guidance.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 12:13 pm

Costco Wholesale Corporation (NASDAQ:COST) exceeded revenue and earnings estimates in its fiscal 2024 first quarter, with a 6% YoY increase in revenue to $57.8 billion and adjusted EPS of $3.58. Despite a slight miss in same-store sales growth, e-commerce sales grew 6.3%. CFO Richard Galanti highlighted strong performance in non-food categories and high foot traffic. Costco's membership base and private-label brand contributed to its resilience amid inflation. Other retailers like Amazon.com (NASDAQ:AMZN), Foot Locker Inc (NYSE:FL), Walmart Inc (NYSE:WMT), and Target Corporation (NYSE:TGT) also reported a strong start to the holiday season, with record online sales reported by Adobe Analytics.

Portfolio Pulse from Upwallstreet

December 18, 2023 | 3:01 pm

Foot Locker Inc (NYSE:FL) shares continue to rise following strong quarterly earnings. Piper Sandler analyst Abbie Zvejnieks upgraded Foot Locker's rating from Neutral to Overweight and increased the price target from $24 to $33. Zvejnieks believes Foot Locker is well-positioned for the next 6-12 months and could see operating margins expand by over 180 basis points in 2024. The company is expected to benefit from a recovering lower-income consumer base, healthier inventory levels by year-end, and a shift in product assortment towards trending brands like New Balance, Adidas, and Nike, leading to more full-price sales.

Portfolio Pulse from Priya Nigam

December 14, 2023 | 5:09 pm

Foot Locker's stock (FL) is trading higher following an upgrade from Piper Sandler, changing its rating from Neutral to Overweight and increasing the price target from $24 to $33.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 3:06 pm

Foot Locker (NYSE:FL) has received 12 analyst ratings in the last quarter, with an average 12-month price target of $21.5, a high of $33.00, and a low of $15.00. The current average price target has decreased by 0.78% from the previous average of $21.67. The ratings include 0 bullish, 2 somewhat bullish, 4 indifferent, 1 somewhat bearish, and 5 bearish ratings.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 3:00 pm

Piper Sandler analyst Abbie Zvejnieks upgraded Foot Locker (NYSE:FL) from Neutral to Overweight and increased the price target from $24 to $33, indicating a more positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 1:37 pm

Foot Locker shares are experiencing an uptrend following the company's announcement on Wednesday of Q3 financial results that surpassed expectations, along with updated guidance.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 7:46 pm

Telsey Advisory Group analyst Cristina Fernández maintained an Outperform rating on Foot Locker, Inc. (NYSE:FL) and raised the price target from $22 to $31. The company's Q3 2023 results and revised guidance indicate stable trends, with no worsening as seen with other retailers. Foot Locker's promotional activities were anticipated in previous guidance and are not due to a soft consumer environment. The company is receiving vendor support to clear inventory and expects to end the year with inventory levels flat or slightly down. Sales trends improved through Q3, with a strong Black Friday weekend. Strategic initiatives, including the growth of strategic brands and community and power stores, are progressing. However, there is uncertainty for 2024 regarding inventory management and margin recovery. The analyst projects a lower EPS for 2023 and 2024, with operating margin compression in 2023 and a slight decrease in operating margin projection for 2024. FL shares dropped by 1.34% to $27.30.

Portfolio Pulse from Nabaparna Bhattacharya

November 30, 2023 | 7:33 pm

Goldman Sachs has reaffirmed its Sell rating on Foot Locker (NYSE:FL) but increased its price target from $18.00 to $20.00. Despite the Sell rating, Foot Locker's stock is currently trading up at $28.10, which is 1.55% higher than the previous day. The new price target suggests a potential downside of 28.83% from the current price. Foot Locker is a retailer of athletic shoes and apparel, with a significant portion of its merchandise supplied by Nike. It operates globally with a variety of store brands and an e-commerce presence.

Portfolio Pulse from Benzinga Insights

November 30, 2023 | 5:00 pm

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