Foot Locker, Inc. - FL STOCK NEWS

Foot Locker, Inc. (NYSE: FL) reported a strong fourth quarter and fiscal 2021, with a net income of $103 million for the quarter and $893 million for the year, a 179.5% increase year-over-year. Total sales rose 6.9% to $2.3 billion in Q4 and 18.7% to $9 billion for the year. Non-GAAP EPS for Q4 was $1.67, reflecting a 7.7% increase, while fiscal 2021 non-GAAP EPS grew to $7.77, up 176.5%. The company aims to diversify its vendor mix and enhance customer experience, with a new cost-saving program set to generate $200 million annually.

On February 17, 2022, Authentic Brands Group (ABG) announced a new partnership with Foot Locker, Inc. (NYSE: FL) to enhance the Reebok brand's presence in the U.S. market. This agreement allows Foot Locker to exclusively carry select Reebok footwear models, including iconic basketball styles from Allen Iverson and Shaquille O'Neal. The partnership aims to elevate customer experience and expand product offerings, aligning with Foot Locker's strategic growth plans. The ownership transfer of Reebok from adidas to ABG is anticipated to finalize in Q1 2022.

Foot Locker plans to report its fourth-quarter financial results for the period ending January 29, 2022, on February 25, 2022, before U.S. market open. A conference call is scheduled for the same day at 9:00 a.m. ET, where management will discuss updates on the business. Participants can pre-register online to receive a passcode for immediate access. The company operates approximately 3,000 retail stores across multiple countries, focusing on inspiring youth culture. For more information, refer to the company's Investor Relations webpage.

Foot Locker, Inc. (NYSE: FL) has announced the election of Virginia C. "Gina" Drosos as a new independent director, effective February 2, 2022. Drosos, currently the CEO of Signet Jewelers Limited, brings extensive experience in branding and global operations. Foot Locker's Chairman, Richard A. Johnson, expressed enthusiasm about her leadership capabilities and track record in growing businesses. Drosos aims to contribute to Foot Locker's mission of inspiring youth culture through exceptional customer experiences.

Foot Locker has appointed Robert Higginbotham as the new Vice President of Investor Relations, effective immediately. Higginbotham, with nearly 20 years of experience on Wall Street, will engage with shareholders and analysts while reporting to Andrew Page, CFO. His previous roles include senior analyst positions at Guidepoint Global and Goldman Sachs. James Lance, the former VP in this position, will transition to a broader role as Vice President of Financial Planning & Analysis. Foot Locker operates approximately 3,000 stores worldwide, emphasizing youth culture and sneaker innovation.

Foot Locker, Inc. (NYSE: FL) has launched its first proprietary womenswear brand, Cozi, available globally at Foot Locker and Champs Sports. The collection, designed for trend-conscious women, features affordable, stylish wardrobe staples and will be showcased by diverse influencers. Cozi's debut collection includes tops and joggers priced between $35 and $50, aimed at empowering women with versatile clothing options. This launch follows previous successful brand initiatives and will continue with seasonal releases throughout 2022.

Foot Locker, Inc. (NYSE: FL) has partnered with Laureus Sport for Good Foundation to launch a Community Empowerment Program aimed at assisting underserved youth across nine metropolitan areas in Europe and Canada. Over the next year, the initiative will provide grants starting at $20,000 to support programs in sports development, health, education, and workforce skills. This aligns with Foot Locker's ongoing commitment to community investment, building on its $200 million LEED initiative, which focuses on economic development within the Black community.

Foot Locker, Inc. (NYSE: FL) reported its Q3 2021 results, showing net income of $158 million ($1.52 per share), a decline from $265 million ($2.52 per share) a year prior. However, on a non-GAAP basis, earnings rose to $1.93 per share, up from $1.21 the previous year. Total sales increased by 3.9% to $2,189 million. The company acquired WSS and atmos, enhancing its store network. Despite ongoing supply chain challenges, gross margin improved significantly by 380 basis points to 34.7%. Year-to-date sales reached $6,617 million, a 23.5% increase compared to 2020.

Foot Locker, Inc. (NYSE: FL) announced important organizational changes on November 16, 2021, to enhance its global growth and omni-channel operations. Franklin R. Bracken has been promoted to Chief Operating Officer, overseeing global operations and customer experience. Susan J. Kuhn is now President—EMEA, managing European operations, while Andrew Gray expands his role in the Commercial area. A new Chief Strategy, Innovation, and Development Officer will be appointed to lead corporate strategy. These changes aim to streamline operations, improve customer connectivity, and drive organizational productivity.