FL - These Analysts Slash Their Forecasts On Foot Locker After Q4 Results | Benzinga
Foot Locker Inc (NYSE: FL) reported upbeat earnings for its fourth quarter on Wednesday.
The company posted fourth-quarter FY23 sales growth of 2% year-on-year to $2.38 billion, beating the analyst consensus estimate of $2.28 billion. Comparable store sales decreased 0.7%. Adjusted EPS of 38 cents beat the analyst consensus of 32 cents, according to data from Benzinga Pro.
Mike Baughn, Executive Vice President and Chief Financial Officer, said, "We maintain conviction in the longer-term earnings potential that our Lace Up plan will generate and reiterate the 8.5-9% EBIT margin target communicated at our March 2023 Investor Day. Given our lower starting point ...