Welcome to our dedicated page for Foot Locker news (Ticker: FL), a resource for investors and traders seeking the latest updates and insights on Foot Locker stock.
Foot Locker, Inc. (NYSE: FL) is a global leader in athletic footwear and apparel, with its headquarters in New York City. The company operates approximately 3,600 retail stores across 21 countries in North America, Europe, Asia, Australia, and New Zealand. Key brands under its portfolio include Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos. With a strong presence in these regions, Foot Locker also extends its reach through its direct-to-consumer business via its e-commerce platform, Footlocker.com/Eastbay.
Foot Locker’s core business centers around providing athletically inspired shoes and apparel, mainly sourced from key suppliers, with Nike being the largest contributor. The company’s omnichannel capabilities bridge digital and physical experiences, offering customers services such as order-in-store, buy online and pick-up in-store, and buy online and ship-from-store. These strategies are part of Foot Locker's efforts to enhance customer engagement and streamline their shopping experience.
In recent financial updates, Foot Locker reported a 9.9% decline in total sales and a comparable-store sales decrease of 9.4% for the second quarter of 2023. Despite these challenges, the company continues to push forward with its strategic investments under the Lace Up plan. This plan focuses on competitive pricing while positioning the business for better inventory management and upcoming holiday seasons.
Financial health remains a priority, with the company holding $180 million in cash and cash equivalents against $450 million in debt as of July 29, 2023. Foot Locker has paused its dividend payouts to enhance financial flexibility, focusing on strategic investments to drive long-term growth.
Notable recent achievements include a multiyear partnership with the National Basketball Association (NBA), making Foot Locker an official league marketing partner in the U.S. This collaboration is set to engage fans throughout the NBA season through various marketing initiatives. Additionally, Foot Locker has strengthened its position in the sneaker culture with its new global brand platform, The Heart of Sneakers, featuring top NBA stars.
As part of its expansion strategy, Foot Locker announced its entry into the Indian market in 2024 through long-term licensing agreements with Metro Brands Limited and Nykaa Fashion. This move aims to capture the growing sneaker market in India.
Foot Locker's ongoing projects include the rollout of the Home Court experience in select U.S. locations and the reimagined FLX Rewards program, which aims to bolster customer loyalty and engagement.
Overall, Foot Locker, Inc. remains committed to its strategic goals, continually adapting to market conditions while striving to maintain its leadership in the athletic footwear and apparel industry.
Foot Locker (NYSE: FL) has announced it will release its fourth quarter financial results for the period ended February 1, 2025, before U.S. markets open on Wednesday, March 5, 2025. The company will host a conference call at 8:00 a.m. ET on the same day to discuss results and provide business updates.
The company will make an investor presentation available on their website before the call. Participants can pre-register for the conference call or dial in directly using toll-free numbers. A live webcast and replay will be available on the company's website until March 19, 2025.
Foot Locker operates approximately 2,500 retail stores across 26 countries in North America, Europe, Asia, Australia, and New Zealand, with additional licensed stores in Europe, the Middle East, and Asia. The company's portfolio includes brands such as Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.
Foot Locker (NYSE: FL) announced its return to NBA All-Star 2025 in San Francisco Bay Area with a major multi-brand activation. The two-story experience, located at 150 Powell Street, will feature exclusive sneaker drops, NBA player appearances, and interactive experiences from February 13-16, 2025.
The event will showcase products from Nike, Jordan Brand, adidas, PUMA, Converse, Crocs, and New Era Cap, including exclusive releases like Nike Kobe VI 'ASW' and Jordan Retro 12 Flu Game. NBA stars including Anthony Edwards, Shai Gilgeous-Alexander, and Jayson Tatum are expected to make appearances.
The activation includes interactive elements like Nike's locker giveaway, Jordan Brand's vertical jump challenge, and PUMA's TMNT lair. Additionally, Foot Locker Foundation will donate $25,000 each to Morehouse College and Tuskegee University as part of the 2025 NBA HBCU Classic partnership.
Foot Locker (NYSE: FL) has appointed two new directors to its Board, effective January 12, 2025. Sonia Syngal, former President and CEO of Gap, and John Venhuizen, President and CEO of Ace Hardware , join the board as the company announces Guillermo G. Marmol will not seek reelection at the 2025 Annual Meeting.
Syngal brings two decades of retail experience in ecommerce, global supply chain, operations, and brand strategy. Venhuizen contributes 30 years of experience at Ace Hardware, where he has led marketing, store operations, strategy, and international operations.
The appointments align with Foot Locker's focus on board refreshment and execution of their Lace Up Plan, which includes operational excellence, digital experience enhancement, and strengthening customer engagement initiatives.
Foot Locker reported Q3 2024 financial results with mixed performance. Total sales decreased 1.4% to $1,958 million, while comparable sales increased 2.4%. The company reported a loss of $0.34 per share, though Non-GAAP earnings were $0.33 per share.
Key highlights include a 230 basis points gross margin expansion and a 6.3% reduction in inventory. However, due to softened consumer spending post Back-to-School period and a more promotional environment, Foot Locker has lowered its full-year outlook. The updated guidance projects sales change of -1.5% to -1.0% and Non-GAAP EPS of $1.20 to $1.30.
Foot Locker (NYSE: FL) has launched its 2024 holiday campaign 'Step Into Your Gift' featuring NBA stars Anthony Edwards, LaMelo Ball, and artist Coi Leray. The multi-brand campaign showcases exclusive releases and top styles from brands including Nike, adidas, New Balance, PUMA, and UGG. The 360-degree marketing initiative spans across paid media, social channels, e-commerce, digital out-of-home advertising, and in-store displays. Featured products include the Nike Zoom Vomero 5, Jordan 4 RM, adidas Originals Samba OG, and PUMA MB.04, positioning Foot Locker as the premier destination for holiday sneaker shopping.
Foot Locker (NYSE: FL) has announced it will release its third quarter financial results for the period ended November 2, 2024, before U.S. markets open on Wednesday, December 4, 2024. The company will host a conference call at 9:00 a.m. ET the same day to discuss business updates. Foot Locker operates approximately 2,500 retail stores across 26 countries in North America, Europe, Asia, Australia, and New Zealand, with additional licensed stores in the Middle East and Asia. The company's portfolio includes brands such as Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.
Foot Locker, Inc. (NYSE: FL) has announced a multi-year partnership with the Chicago Bulls ahead of the 2024-25 NBA season. This collaboration aims to strengthen Foot Locker's position in basketball culture through various initiatives:
1. Community events, including Bulls Fest and Youth Hoops 3v3 Tournaments
2. In-store activations, such as player meet-and-greets at the State Street location
3. Exclusive 'Tunnel Walk' content on social media
4. Partnership launch celebration on Oct. 30 during the Bulls vs. Orlando game
The partnership aligns with Foot Locker's broader basketball initiatives, including its agreement with the NBA and the launch of 'The Clinic' program. This collaboration reinforces Foot Locker's commitment to basketball culture and its Lace Up Plan to expand sneaker culture within the basketball community.
Foot Locker (NYSE: FL) is celebrating its 50th anniversary this September with a month-long series of events and the launch of a -edition sneaker and apparel collection. The collection, created in partnership with Nike, adidas, New Balance, PUMA, and Converse, features distinctive black and white colorways with gold accents.
Highlights of the celebration include:
- Exclusive footwear and apparel collection available from September 9
- Various events in New York City, including a performance by GRAMMY-nominated artist Coi Leray
- NYSE Opening Bell® Ceremony on September 5
- 360-marketing campaign launch on September 9
Foot Locker is also advancing its Lace Up Plan, focusing on expanding sneaker culture, deepening customer relationships, and enhancing its omnichannel experience. The company aims to drive sustainable growth through reimagined retail concepts, an enhanced FLX Rewards Program, and a soon-to-be-launched redesigned mobile app.
Foot Locker, Inc. (NYSE: FL) announced its participation in the Goldman Sachs 31st Annual Global Retailing Conference on September 4, 2024, at 2:35 p.m. ET. Mary Dillon (President and CEO), Frank Bracken (EVP and Chief Commercial Officer), and Mike Baughn (EVP and CFO) will engage in a fireside chat. The event will be webcast live on Foot Locker's Investor Relations website, with a 90-day replay available.
Foot Locker is a leading footwear and apparel retailer with approximately 2,500 stores across 26 countries. The company operates under various brands, including Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos, catering to sneaker enthusiasts worldwide.
Foot Locker, Inc. (NYSE: FL) reported Q2 2024 financial results, showing a return to growth with total sales up 1.9% to $1,896 million and comparable sales up 2.6%. The company achieved gross margin expansion of 50 basis points year-over-year. However, it reported a loss of $0.13 per share and a non-GAAP loss of $0.05 per share. Inventory decreased 10.0% year-over-year.
Foot Locker reaffirmed its full-year 2024 non-GAAP EPS outlook of $1.50 to $1.70. The company announced strategic updates, including streamlining international operations and optimizing corporate office footprint. Notably, Foot Locker plans to relocate its global headquarters to St. Petersburg, Florida in late 2025 and open a Global Technology Services Hub in Dallas, Texas in September.
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