Foot Locker, Inc. - FL STOCK NEWS

Foot Locker has appointed Melody Ehsani as Creative Director of its women's business to enhance brand engagement with female consumers. Ehsani, known for her streetwear brand ME., will design quarterly apparel collections and curate Nike and Jordan products. The first collection launches in Summer 2021 across the U.S., Canada, and select locations in Europe and Asia Pacific. The initiative includes a digital crowd-sourcing program for pop-up shops to provide consumers early access to collections. This move underscores Foot Locker's commitment to empowering women and fostering cultural impact.

Foot Locker reported Q4 2020 net income of $123 million, or $1.17 per share, marking a 7.9% EPS decline from the prior year. Total sales fell 1.4% to $2,189 million. Non-GAAP EPS was $1.55, down 4.9%. Fiscal 2020 sales were $7,548 million, a 5.7% decrease, with net income down 34.2% to $323 million. The company increased its quarterly dividend by 33% to $0.20 per share and returned $110 million to shareholders. 2021 guidance is not provided due to COVID-19 uncertainty. As of Jan 30, 2021, Foot Locker operated 2,998 stores globally.

Foot Locker, Inc. (NYSE: FL) has announced a $275 million capital expenditure program for 2021, significantly higher than the $155 million in 2020, aimed at enhancing its digital capabilities and global supply chain. Additionally, the Board declared a quarterly dividend of $0.20 per share, a 33% increase from the previous $0.15, payable on April 30, 2021. These initiatives reflect the Board's confidence in the company's growth and commitment to shareholder returns, despite ongoing pandemic uncertainties.

Foot Locker has launched 'The Sole List' to honor Black innovators in sneaker culture for Black History Month. This initiative highlights the contributions of the Class of 2021, showcasing how these individuals influence cultural conversations and open doors through collaborations. Vice President Jason Brown emphasized the company's commitment to driving change, building on a $200 million commitment over five years to support the Black community. The honorees will be featured across Foot Locker's social channels, celebrating their achievements in the sneaker and broader cultural landscapes.

Foot Locker plans to report its fourth quarter financial results for the period ending January 30, 2021 before the market opens on February 26, 2021. A conference call will occur that day at 9:00 a.m. ET, where the company will provide a business update. Stakeholders are encouraged to pre-register for the call for immediate access. Foot Locker operates nearly 3,000 stores across 28 countries, fostering youth culture through various sneaker brands.

Foot Locker, Inc. (NYSE: FL) announced the appointment of Himanshu Parikh as Senior Vice President and Chief Information Officer, effective December 11, 2020. Parikh will lead the company's technology strategy and operations, enhancing its omni-channel initiatives. With over 25 years of experience, including his recent role at The Michaels Companies, Parikh is expected to drive technology transformation and improve customer experiences. His prior work includes significant contributions to digital commerce and supply chain expansion. Foot Locker operates approximately 3,000 retail stores globally, enhancing youth culture through its brands.

Foot Locker, Inc. (NYSE: FL) announced a short-term shareholder rights plan to protect against unwarranted control through open market accumulation. This decision follows significant stock accumulation by Vesa Equity Investment, which now owns 12.2% of the company's common stock. The rights will become exercisable if ownership exceeds 20%. The plan, adopted on December 4, 2020, is effective immediately and valid for one year, expiring on December 7, 2021. Additional details will be provided in a Form 8-K with the SEC.

Foot Locker, Inc. (NYSE: FL) announced the retirement of Lauren B. Peters, Executive Vice President and Chief Financial Officer, effective April 2021. A search for her successor is underway, with both internal and external candidates being considered. Richard Johnson, CEO, praised Peters for her 23 years of service and nine years as CFO, highlighting her contributions to the company's growth and financial organization. Foot Locker operates nearly 3,000 stores globally, focusing on youth culture and sneaker communities.

Foot Locker reported a strong third-quarter performance for 2020, with net income rising to $265 million or $2.52 per share, compared to $125 million or $1.16 per share in Q3 2019. Total sales increased by 9.0% year-over-year to $2,106 million, driven by a 7.7% rise in comparable-store sales. However, year-to-date sales fell 7.3% compared to the previous year. The company has $2 billion in liquidity and closed 95 stores while opening 27 new ones. Foot Locker has not provided full-year 2020 guidance due to ongoing uncertainty from COVID-19.