FOOT LOCKER, INC. REPORTS SECOND QUARTER 2024 FINANCIAL RESULTS; REAFFIRMS 2024 OUTLOOK; ANNOUNCES STRATEGIC UPDATES IN SUPPORT OF LACE UP PLAN

Seaport Global Securities Reiterates Neutral Rating on Foot Locker (FL)

Seaport Global Securities analyst Mitch Kummetz reiterated a Neutral rating on Foot Locker (NYSE: FL).

The analyst comments "FL reported a modest 2Q24 sales, EBIT, and EPS beat. Sales growth was driven by a strong Foot Locker comp in North American and EMEA. The company noted improving trends throughout the quarter, including a solid start to back-to-school. Moreover, a... More

Evercore ISI Reiterates Outperform Rating on Foot Locker (FL)

Evercore ISI analyst Michael Binetti reiterated an Outperform rating and $38.00 price target on Foot Locker (NYSE: FL).

The analyst comments "Leaning In: Bigger Picture FL Thesis is Intact: We highlighted in our preview wed be biased to lean in on a pullbackand we are. 2Q was the first time in 10 quarters that both SSS and GM turned... More

Foot Locker (FL) PT Raised to $30 at Telsey

Telsey analyst Cristina Fernandez raised the price target on Foot Locker (NYSE: FL) to $30.00 (from $27.00) while maintaining a Market Perform rating.

The analyst comments "TAG: Foot Locker's turnaround is taking hold as evidenced by the return to a positive comp in 2Q24 after five quarters of negative comps and expectations that the positive trend will continue in 2H24... More

BTIG Reiterates Neutral Rating on Foot Locker (FL)

BTIG analyst Janine Stichter reiterated a Neutral rating on Foot Locker (NYSE: FL).

The analyst comments "Q2 demonstrated continued progress, with upside across both top-line and GM, outsized strength in the core FL concept, and stabilization in Champs. Importantly, top-line and GM... More

Foot Locker reports revenue beat, reaffirms outlook

(Updated - August 28, 2024 9:41 AM EDT)

Foot Locker (NYSE: FL) reported a narrower-than-expected loss for the second quarter of 2024, with sales slightly beating estimates, but shares fell more than 14% following the results.

The specialty athletic retailer posted an adjusted loss of $0.05 per share for the quarter ended August 3, compared to the analyst estimate of a $0.08 loss. Revenue rose 1.9% YoY to $1.9 billion, edging past the consensus estimate of $1.89 billion.

Comparable sales increased 2.6%, led by global Foot Locker and Kids Foot Locker comparable sales growth of 5.2%. The company's gross margin expanded... More