Foot Locker Q3 24 – 29/11 – back in August Foot Locker shares plunged to a 10-year low, just below $15, after sliding to a loss in Q2 of $0.05c a share and falling short on revenues at $1.86bn. Inventory levels came in higher than expected, with signs of softening demand in July.
The retailer also slashed its full profit outlook from between $2 and $2.25 to $1.30 and $1.50, as well as pausing the dividend.
Since then, the shares have rebounded, helped by stronger numbers from the likes of sector peers like Nike and JD Sports, who own the Finish Line brand in the US.
For Q3 revenues are expected to come in at $1.97bn while same store sales are expected to decline by 9.7%, while profits are forecast to plunge from $1.27c a share to $0.26c a share.
