FL - Why Is Foot Locker Stock Diving Today? | Benzinga
On Wednesday, specialty athletic retailer Foot Locker Inc (NYSE:FL) reported 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 $0.38 beat the analyst consensus of $0.32.
The gross margin contracted 350 basis points, primarily as a result of higher markdowns, partially offset by occupancy leverage.
Selling, general and administrative expenses grew 2.3% Y/Y to $533 million. ...