Sales Performance - Total sales increased by 1.9% to $1,896 million compared to $1,861 million in Q2 2023, with a 2.5% increase excluding foreign exchange effects [2]. - Comparable sales rose by 2.6%, driven by a 5.2% growth in global Foot Locker and Kids Foot Locker [3]. - The company experienced a 7.5% increase in sales for Foot Locker in constant currencies, with total sales reaching $754 million in the second quarter of 2024, up from $704 million in the second quarter of 2023 [27]. - Year-to-date sales for Foot Locker increased by 4.7%, totaling $1.513 billion in 2024 compared to $1.448 billion in 2023 [27]. Financial Performance - Gross margin expanded by 50 basis points year-over-year, with a 90 basis point improvement excluding the impact of a non-recurring charge from the FLX Rewards Program [3]. - The net loss for the second quarter was $12 million, compared to a net loss of $5 million in the same period last year, resulting in a loss per share of $0.13 [4]. - Foot Locker reported an adjusted net loss income (non-GAAP) of $4 million for the second quarter of 2024, compared to an adjusted net income of $4 million in the same period of 2023 [21]. - The diluted loss earnings per share for the second quarter of 2024 was $(0.13), compared to $(0.05) in the same quarter of 2023 [24]. - Net loss for the period was $4 million, compared to a net income of $31 million in the previous year [31]. Inventory and Assets - Merchandise inventories decreased by 10.0% year-over-year to $1.6 billion, with a 9.2% decrease when excluding foreign currency fluctuations [5]. - Merchandise inventories decreased to $1.648 billion in 2024 from $1.831 billion in 2023 [29]. - Cash and cash equivalents increased to $291 million in 2024, compared to $180 million in 2023 [29]. - Total liabilities decreased to $4.056 billion as of August 3, 2024, down from $4.289 billion as of July 29, 2023 [29]. - Total shareholders' equity decreased to $2.897 billion in 2024 from $3.247 billion in 2023 [29]. Store Operations - The company opened 5 new stores and closed 31 stores during the quarter, resulting in a total of 2,464 stores across 26 countries [6]. - The company is closing stores and ecommerce operations in South Korea, Denmark, Norway, and Sweden as part of its strategic simplification efforts [7]. - Total store count decreased to 2,464, with 68 stores closed and 9 opened during the period [33]. - Selling square footage for Foot Locker U.S. was 2,364 thousand, slightly up from 2,354 thousand in the previous year [34]. - Gross square footage for Foot Locker U.S. decreased to 4,004 thousand from 4,028 thousand [34]. Strategic Plans - The company plans to relocate its headquarters to St. Petersburg, Florida in late 2025 to enhance collaboration and reduce costs [9]. - The company plans to focus on improving international operations following the closure of stores in underperforming regions [25]. - The company plans to continue its market expansion strategy, focusing on store relocations and remodels, with 110 planned for the year [33]. Capital Expenditures - Capital expenditures for 2024 are projected to be $275 million, slightly lower than previous guidance due to fewer store openings [11]. - Capital expenditures amounted to $132 million, compared to $105 million in the previous year [31]. Cash Flow - Net cash provided by operating activities was $126 million, a significant improvement from a net cash used of $184 million in the prior year [31]. - Net cash used in investing activities was $133 million, an increase from $96 million in the prior year [31]. - Net cash used in financing activities was $5 million, a significant decrease from $80 million in the previous year [31]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $322 million, down from $334 million at the beginning of the year [31].

A Foot Locker store near the Times Square neighborhood of New York, US, on Monday, Nov. 13, 2023.Foot Locker on Wednesday said comparable sales grew for the first time in six quarters as its efforts to refresh its stores and improve the customer experience continue to bear fruit. The beleaguered sneaker company's same-store sales grew 2.6% during its fiscal second quarter, far better than the 0.7% uptick that analysts had expected, according to StreetAccount. Its gross margin also expanded for the first tim ...

Core Viewpoint - Foot Locker is positioned well for potential earnings beats in upcoming reports, supported by a strong history of exceeding earnings estimates and positive analyst sentiment [1][2][3]. Company Performance - Foot Locker has a track record of beating earnings estimates, with an average surprise of 47.55% over the past two quarters [1]. - In the most recent quarter, Foot Locker reported earnings of $0.22 per share, surpassing the expected $0.12 per share by 83.33% [1]. - For the previous quarter, the company reported $0.38 per share against an expectation of $0.34 per share, resulting in a surprise of 11.76% [1]. Earnings Estimates - Estimates for Foot Locker have been trending higher, influenced by its history of earnings surprises [2]. - The company currently has a positive Zacks Earnings ESP of +5.88%, indicating bullish sentiment among analysts regarding its earnings prospects [3]. - The next earnings report for Foot Locker is anticipated to be released on August 28, 2024 [3]. Predictive Metrics - The combination of a positive Earnings ESP and a Zacks Rank of 3 (Hold) suggests a high likelihood of another earnings beat, with historical data showing nearly 70% success in such cases [2][3]. - The Earnings ESP metric is crucial for predicting earnings performance, as it compares the Most Accurate Estimate to the Zacks Consensus Estimate [3][4].

Wall Street analysts forecast that Foot Locker (FL) will report quarterly loss of $0.09 per share in its upcoming release, pointing to a year-over-year decline of 325%. It is anticipated that revenues will amount to $1.89 billion, exhibiting an increase of 1.2% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections ...

The market expects Foot Locker (FL) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended July 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on August 28, 2024, might help the stock move higher if these key numbers are bett ...

An increasing awareness of the health benefits of staying active has catapulted fitness stocks into the spotlight.In the era of technological advancements and evolving consumer preferences, fitness companies are innovating to stay ahead of the curve. This spans all areas of the industry from wearable technology that tracks health metrics to fitness apparel for peak performance. These innovations are not happening in isolation and are part of a broader growth trend within the industry. Data shows that the sp ...

NEW YORK, July 31, 2024 /PRNewswire/ -- Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, plans to report financial results for its second quarter ended August 3, 2024, before the U.S. markets open on Wednesday, August 28, 2024. A conference call is scheduled for the same day at 9:00 a.m. ET, during which the Company will provide an update on the business.  An investor presentation will be available under the Investor Relations section of the Company's corporate website at footlo ...

Foot Locker TodayFLFoot Locker$26.00 +2.08 (+8.70%) 52-Week Range$14.84▼$35.60Price Target$24.81Add to WatchlistFoot Locker Inc. NYSE: FL is a footwear and apparel retailer operating under its flagship Foot Locker, Kids Foot Locker, Champs Sports, WSS, and Atmos brands. The company operates over 2,600 stores worldwide across North America, Asia, Europe, Australia and New Zealand. They embrace the sneakerhead culture with their stores, often located in malls and strip centers. Shares have been punished due t ...

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