Foot Locker Downgraded to Hold Amidst Weak Financial Performance
Tuesday, 26 March 2024, 07:53
Foot Locker Downgraded to Hold with Uncertain Future
Analysts have downgraded Foot Locker's rating to 'Hold' following the company's disappointing 4Q23 results, which revealed a decrease in gross margin and pre-tax profits. The weak demand trends indicate a continued decline in same-store sales growth (SSSG) for the upcoming 1FQ24, prompting concerns about the company's performance in the near term.
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