Foot Locker Inc
- Nike Inc. dropped 12.7% to $106.90 after the athletic shoe and sportswear maker lowered its annual sales growth outlook.
Revenue in the fiscal second quarter ending in November increased 1% to $13.4 billion from $13.3 billion, net income advanced $1.6 billion from $1.3 billion, and diluted earnings per share rose to $1.03 from 85 cents a year ago.
Inventories declined 14% from a year ago to $8.0 billion, reflecting a decrease in units and a sharp reversal from elevated inventories a year ago after the company discounted heavily old-style products to make way for new merchandise.
The company repurchased 11.9 million shares for $1.2 billion as a part of its $18 billion stock repurchase program for four years, starting in June 2022.
As of the end of November, the company had repurchased 65.9 million shares for $7.1 billion.
The company also announced its plan to cut $2 billion in costs over the next three years.
Foot Locker, the retailer that relies heavily on Nike products, dropped 8.9% to $29.49 after the announcement of the Nike results.
Dec 22, 2023 - Foot Locker jumped 8.5% to $25.85 after the specialty athletic retailer reported better-than-expected quarterly results.
Revenue in the fiscal third quarter ending in October declined 8.6% to $1.99 billion from $2.17 billion, and comparable store sales fell 8.0%.
The company attributed the decline in sales to "ongoing consumer softness," and the closure of Champ stores negatively impacted same-store sales by 3 percentage points.
Net income in the quarter decreased to $28 million from $96 million, and diluted earnings per share dropped to 30 cents from $1.01 a year ago.
The retailer tightened its full-year revenue growth estimate to between 8.0% and 8.5% from the previous guidance between 8.0% and 9.0%, and comparable sales growth to range between 8.0% and 8.5% from 8.0% to 9.0%.
The company entered into a long-term licensing agreement with two retailers in India and will commence sales operations in 2024.
During the third quarter, the company paid a quarterly dividend of $0.40 per share for a total of $38 million and did not repurchase any shares.
Nov 29, 2023 - Foot Locker Inc plunged 29.7% to $16.71 after the specialty retailer reported sales declined almost 10% from a year ago and the company also suspended its quarterly dividend.
Aug 23, 2023 - Foot Locker Inc plunged 24.1% to $24.55 after the specialty retailer reported weaker-than-expected sales and earnings in the first quarter.
The athleticwear maker reported first quarter sales declined 11.4% to $11.9 billion after comparable store sales declined 9.1% on macroeconomic headwinds.
Gross margin declined 400 basis points from a year ago, driven by a combination of higher markdowns, and store closings, as well as an increase in theft related shrink.
Net income declined to $36 million from $133 million and diluted earnings per share fell to 38 cents from $1.33 a year ago.
In the quarter, the retailer paid 40 cents a share dividend or $38 million and the company's board approved 40 cents a share dividend payable on July 28 to shareholders on record July 14.
The company lowered its annual revenue decline forecast between 6.5% and 8.0% from the previous estimate between 3.5% and 5.5% and revised lower comparable sales decrease outlook between 7.5% and 9.0% from 3.5% to 5.5%.
During the first quarter, the company opened 13 new stores, remodeled, or relocated 18 stores, and closed 35 stores and operated 2,692 stores in 29 countries in North America, Europe, Asia, Australia, and New Zealand.
In addition, 163 franchised stores were operating in the Middle East and Asia.
May 19, 2023 - Foot Locker Inc said sales in the fourth quarter ending on January 28 decreased 0.3% to $2.33 billion and net income plunged to $19 million from $103 million and diluted earnings per share dropped to 19 cents from $1.02 a year ago.
Comparable sales in the quarter increased 4.2%.
During the fourth quarter, the company paid a quarterly dividend of 40 cents per share and repurchased 4.1 million shares for a total of $129 million and paid a total of $150 million in dividends.
The Board of Directors declared a quarterly cash dividend of 40 cents per share payable on April 28 to shareholders of record on April 14.
In the full-year 2022, total sales fell to $8.6 billion from $9.0 billion and net income dropped to $342 million from $893 million and diluted earnings per share fell to $3.58 from $8.61.
Mar 20, 2023
| Year | May | Aug | Nov | Feb | Annual | |
|---|---|---|---|---|---|---|
| 2023 | 0.21 | 0.38 | -0.05 | 0.30 | - | |
| 2022 | 1.07 | 1.37 | 0.99 | 1.01 | 3.58 | |
| 2021 | 1.19 | 1.93 | 4.09 | 1.52 | 8.61 | |
| 2020 | 1.27 | -1.06 | 0.43 | 2.52 | 3.08 | |
| 2019 | 1.39 | 1.52 | 0.55 | 1.16 | 4.5 | |
| 2018 | -0.34 | 1.38 | 0.75 | 1.14 | 4.66 | |
| 2017 | 1.37 | 1.36 | 0.62 | 0.87 | 4.22 | |
| 2016 | 1.16 | 1.39 | 0.94 | 1.13 | 4.62 | |
| 2015 | 1 | 1.29 | 0.84 | 1 | 4.13 | |
| 2014 | 1.10 | 0.63 | 0.82 | 0.81 | 2.85 | |
| 2013 | 0.90 | 0.44 | 0.70 | 0.67 | 2.58 | |
| 2012 | 0.83 | 0.39 | 0.69 | 0.53 | 1.8 | |
| 2011 | 0.60 | 0.24 | 0.43 | 0.36 | 1.07 | |
| 2010 | 0.34 | 0.04 | 0.33 | 0.14 | 0.3 | |
| 2009 | 0.20 | 0.00 | -0.04 | -0.81 | -0.52 | |
| 2008 | 0.02 | 0.11 | 0.16 | 0.52 | 0.29 | |
| 2007 | 0.11 | -0.12 | -0.22 | 0.71 | 1.6 | |
| 2006 | 0.38 | 0.09 | 0.42 | 0.61 | 1.68 | |
| 2005 | 0.37 | 0.28 | 0.42 | 0.57 | 1.88 |