FL - Foot Locker Inc. (FL) Q1 2024 Earnings Call Transcript

2024-05-30 13:12:06 ET

Foot Locker, Inc. (FL)

Q1 2024 Results Conference Call

May 30, 2024 09:00 AM ET

Company Participants

Robert Higginbotham - SVP, FP&A, IR, and Treasurer

Mary Dillon - President, CEO

Frank Bracken - EVP, CCO

Mike Baughn - EVP, CFO

Conference Call Participants

Cristina Fernández - Telsey Advisory Group

Tom Nikic - Wedbush

Michael Binetti - Evercore ISI

Arian Razai - Guggenheim

Jay Sole - UBS

Presentation

Operator

Good morning, and welcome to Foot Locker's First Quarter 2024 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. This conference call may contain forward-looking statements that reflect management's current views of future events and financial performance.

Management undertakes no obligation to update these forward-looking statements which are based on many assumptions and factors, including the effects of global economic and market conditions, currency fluctuations, customer preferences and other risks and uncertainties described more fully in the Company's press releases and reports filed with the SEC, including the most recently filed Form 10-K or Form 10-Q.

Any changes in such assumptions or factors could produce significantly different results, and actual results may differ materially from those contained in the forward-looking statements. Please note that this conference is being recorded.

I will now turn the call over to Robert Higginbotham, Senior Vice President, FP&A, Investor Relations and Treasurer. You may begin

Robert Higginbotham

Thank you, operator. Welcome, everyone, to Foot Locker Inc.'s first quarter earnings call. We'll begin with prepared remarks by Mary Dillon, our President and Chief Executive Officer. Frank Bracken, our Executive Vice President and Chief Commercial Officer will then give more detail on our results across our banners and geographies. Then Mike Baughn, our Executive Vice President and Chief Financial Officer, will review our first quarter results in more detail as well as our 2024 outlook.

Following our prepared remarks, Mary, Frank and Mike will take your questions. To note, today's call will reference certain non-GAAP measures. A reconciliation of GAAP to non-GAAP results is included in this morning's earnings release. We also have a slide presentation posted on our Investor Relations website with information that will be referenced during the call. Finally, for future planning purposes, we tentatively plan to release our second quarter 2024 results on Wednesday, August 28.

And now, I will turn it over to Mary.

Mary Dillon

Thank you, Rob. I'll start this morning with a brief overview of our first quarter results and then provide an update on the ongoing execution of our Lace Up plan. Our team delivered a solid start to the year with better-than-anticipated non-GAAP earnings per share and comparable sales performance in line with the guidance we provided on our last earnings call....

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