Foot Locker, Inc. (FL) Is a global leader in designing, developing, and commercializing sneakers and other feet-related products. The company also made feet products for kids and athletes. The company has approximately 3,000 stores in 28 countries across five continents and has mobile applications and websites for purchase. It inspires and empowers youth culture globally by powering a common passion for self-expression.
The price of FL stock in regular trading on February 24, 2022, was $41.4 with a gain of 3.86%. At last check in the premarket on February 25, 2022, the stock plummeted by 25.26%.
FL: Key Financials
On February 25, 2022, FL released its financials for the fourth quarter ended January 29, 2022. Some of the main highlights are cited below.
Net Sales
Net Sales in Q4 2021 were $2.34 billion compared to $2.18 billion in the same period of 2020. The company observed an improvement of $152 million in net sales year-over-year. Also, the company’s revenue is in-line with the estimations.
EPS
Diluted net income in Q4 2021 was $102 million or $1.02 per share versus $123 million or $1.17 per share in the same quarter in 2020. The company observed a decrease in its EPS over the year. Also, it missed the analysts’ estimated EPS of $1.53.
FL: Events and Happenings
On February 17, 2022, FL updated an improved collaboration with Authentic Brands Group. Both companies agreed upon deepening their assortment with Reebok and exclusively carrying selected Reebok footwear models in company-owned stores and online. On December 13, 2021, FL launched Cozi which is its exclusive and preliminary womenswear brand. It is available internationally exclusively at Foot Locker and Champs Sports.
On December 9, 2021, FL and Laureus Sport for Good Foundation, partnered to unveil a multiple-country step towards helping underserved groups and addressing wealth, health, and opportunity gaps. On November 18, 2021, FL announced structural improvements to modernize its global growth and power its omnichannel ecosystem.
Conclusion
FL stock is 21% down the past year. Its stock tumbled in the premarket session of Friday as the company announced its unaudited financial statement and missed the analysts’ expectations in EPS. Although the revenue of the company is in-line with the estimates, still its stock plunged.
