Foot Locker Stock News

Foot Locker, CVS Health and Charles River Laboratories are among hard-hit stocks that look ready to recover.

The holiday shopping season is the time of the year for retailers in the consumer discretionary sector to get in the black. While some retailers like RH NYSE: RH and Williams-Sonoma Inc. NYSE: WSM are the “haves” and are expected to have a strong holiday season, many retailers are the “have nots” and already presumed to have weak results.

Despite facing a softer-than-expected retail environment in the third quarter, Foot Locker President and CEO Mary Dillon remains optimistic about the company's long-term digital strategy, including a new mobile app and revamped loyalty program.

Foot Locker, Inc.'s Q3 2024 results missed guidance, leading to a 10% stock drop, and FY24 guidance was lowered due to margin pressures and increased SG&A. Positive comparable sales in North America and Europe, across banners, with footwear performing well. Gross margins improved by 230bps, but Nike's DTC promotions pressured margins; SG&A increased by 8%, negating gross margin gains.

Foot Locker shares sank on Wednesday after the sports retail company lowered its full-year sales and earnings outlook. Total sales for the quarter slipped 1.4% to $1.96 billion.

Foot Locker, Inc.'s Q3 performance missed expectations with a turnaround failing to materialize, and the lowered FY2024 guidance suggests similar trends in Q4. The company's Lace Up Plan hasn't yielded wanted results despite notable store footprint rationalization, as Foot Locker's retail brands and Nike sales are weakening. Despite the stock's crash, I estimate FL stock's valuation to remain t...

Foot Locker, Inc. (NYSE:FL ) Q3 2024 Earnings Call Transcript December 4, 2024 9:00 AM ET Company Participants Robert Higginbotham - SVP, Corporate Finance, Investor Relations & Treasurer Mary Dillon - President & Chief Executive Officer Frank Bracken - Executive Vice President & Chief Commercial Officer Mike Baughn - Executive Vice President & Chief Financial Officer Conference Call Participan...

Foot Locker's CEO blamed the earnings misses on soft demand for Nike sneakers and more promotions than expected across the industry.