Foot Locker's Q1 2024 Earnings Show Profit and Revenue Decline

Thursday, 30 May 2024, 13:53

The latest financial report from Foot Locker (NYSE: FL) reveals a decline in profit and revenue for the first quarter of fiscal 2024, with revenues falling by 3% year-over-year to $1.87 billion. Despite efforts to mitigate the impact of foreign exchange rates, sales still dropped by 2.4%. The comparable-store sales also witnessed a decrease, signaling a challenging period for the specialty athletic retailer.
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Foot Locker's Q1 2024 Earnings Show Profit and Revenue Decline

Foot Locker Q1 2024 Earnings Update

Foot Locker, Inc. (NYSE: FL) reported a decline in profit for the first quarter of fiscal 2024, with a 3% decrease in revenues from the previous year.

Key Highlights:

  • Revenue Decline: Revenues dropped by 3% year-over-year to $1.87 billion.
  • Sales Impact: Excluding foreign exchange fluctuations, sales decreased by 2.4%.
  • Comparable-Store Sales: Experienced a decline, indicating challenges for the specialty athletic retailer.

Foot Locker's performance in Q1 reflects a tough market environment, with decreasing sales posing challenges for the company's profitability.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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