Specialty athletic retailer Foot Locker Inc FL shares are buying and selling decrease in premarket on Wednesday.
The corporate reported a fourth-quarter gross sales decline of 5.8% year-on-year to $2.243 billion, lacking the analyst consensus estimate of $2.322 billion.
Comparable retailer gross sales elevated 2.6% versus final yr. Adjusted EPS of $0.86 beat the analyst consensus of $0.72.
The gross margin expanded 300 foundation factors, led by sequentially improved merchandise margin recapture tendencies relative to the third quarter of FY24 regardless of elevated promotions within the market.
Promoting, common and administrative bills fell 6% Y/Y to $501 million. The working margin was 3.6%, and working revenue for the quarter jumped 148% to $82 million.
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The corporate held $401 million in money and equivalents as of February 1. Merchandise inventories have been $1.5 billion, a 1.1% Y/Y improve.
The working money stream for twelve months totaled $345 million. As of February 1, the corporate operated 2,410 shops in 26 international locations in North America, Europe, Asia, Australia, and New Zealand.
“Our return to optimistic comparable gross sales progress, gross margin enlargement, and optimistic free money stream in fiscal 2024 function proof factors that our Lace Up Plan is working,” mentioned CEO Mary Dillon.
FY25 Outlook: Foot Locker sees FY25 comparable gross sales progress of 1% – 2.5%. FL expects gross sales change of -1.0% to +0.5%. Retailer rely to be down 4%.
The corporate expects adjusted FY25 EPS of $1.35 – $1.65 versus the consensus of $1.77.
Worth Motion: FL shares are buying and selling decrease by 0.40% at $17.30 in premarket ultimately test Wednesday.
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