Foot Locker shares sink after weak quarterly results

Published On Dec 4, 2024, 12:32 PM

Foot Locker shares dropped sharply after the company reported disappointing quarterly results, with a loss of $33 million and a significant decline in sales compared to last year. The company has revised its full-year sales forecast down to a decrease of 1% to 1.5%, attributed primarily to weaker consumer spending and a more competitive promotional environment. CEO Mary Dillon expressed cautious optimism about future improvements through various strategic initiatives.

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Stock Forecasts

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Negative

Given the weak quarterly results and reduced sales outlook, Foot Locker's performance is likely to remain under pressure in the short term. Investors should be cautious as the company navigates a challenging retail environment with falling earnings expectations.

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