Tag: $Foot Locker

Dick’s Sporting Goods said Thursday it saw a better-than-expected holiday quarter, but the retailer issued weak profit guidance for the year ahead as its acquisition of Foot Locker continues to weigh on its bottom line.

Dick’s Sporting Goods said Thursday it plans to acquire rival Foot Locker as it looks to expand its international presence, win over a new set of consumers and corner the Nike sneaker market.

Shares of Foot Locker were trading sharply lower Wednesday after the shoe retailer posted a weak quarter and slashed its financial outlook.

Foot Locker Inc. is planning to expand its Home Court basketball serious developed with Nike Inc. in stores worldwide, part of an effort for the longtime partners to mend their frayed relationship. 

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 time in more than two years.

Foot Locker’s turnaround is starting to bear some fruit.The sneaker giant saw comparable sales decline 1.8% during its fiscal first quarter, far better than the 3.1% drop-off that analysts expected, according to StreetAccount. 

Foot Locker reported a holiday-quarter loss on Wednesday.

Foot Locker beat third-quarter earnings and sales expectations.

Foot Locker stock tumbled on Monday after analysts at Citi downgraded the shoe and sportswear retailer, citing multiple reasons for caution and a share price that had already exceeded their price target.

Foot Locker’s sales fell 9.9% during its fiscal second quarter, and it attributed the decline to ongoing “consumer softness.”

Shares of Foot Locker Inc plunged 25% premarket on Friday, after the footwear retailer cut its annual sales and profit forecasts reeling under a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories.