Foot Locker has spent two years transforming its business, and it’s now seeing sales and margins expand, indicating its efforts are finally starting to…
Foot Locker beat Wall Street's estimates on the top and bottom lines as it posted comparable sales growth for the first time in six quarters.As part of its efforts to streamline operations, Foot Locker is exiting a number of international markets and moving its headquarters from New York City to Florida.
Foot Locker also stood by its adjusted earnings per share guidance. It expects earnings to be between $1.50 and $1.70 – much of that range ahead of the $1.54 that analysts had expected, according to LSEG.of Foot Locker about two years ago, she has worked to transform the company and ensure that it stays relevant in a world where brands, and has also taken a hard look at its sprawling, but aging, store fleet, where the company does about 80% of its sales.
Foot Locker's Champs banner, which has been dragging down the company's overall performance, is also showing some signs of improvement. During the quarter, comparable sales were down 3.9%, which is an improvement from the 25.3% decline it saw in the year-ago period.
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