Foot Locker Inc. Reports Lower Adjusted Earnings but Records a 2% Increase in Q4 2023 Revenues

Wednesday, 6 March 2024, 13:42

Foot Locker, Inc. (NYSE: FL) reported its financial results for Q4 2023 with a decrease in adjusted earnings but a 2% rise in revenues. Total revenues reached $2.38 billion, reflecting a 1.5% increase in sales after excluding foreign exchange impacts. Despite the revenue growth, the company experienced a net loss of $389 million compared to a profit of $19 million in the previous year, mainly due to a significant decline in adjusted earnings.
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Foot Locker Inc. Reports Lower Adjusted Earnings but Records a 2% Increase in Q4 2023 Revenues

FL Earnings: Foot Locker reports lower adj. earnings for Q4 2023; sales up 2%

Specialty athletic retailer Foot Locker, Inc. (NYSE: FL) Wednesday announced financial results for Q4 2023, reporting a decrease in adjusted earnings and a modest rise in revenues.

Total revenues moved up 2% annually to $2.38 billion in the fourth quarter. Excluding the effect of foreign exchange rate fluctuations, sales increased 1.5%. Comparable-store sales were down 0.7%.

The company reported a net loss of $389 million or $4.13 per share for the January quarter, on a reported basis, compared to net income of $19 million or $0.20 per share in the corresponding prior-year period. On an adjusted basis, earnings declined sharply to $0.38 per share in Q4 from $0.97 per share last year.

Prior Performance

The post FL Earnings: Foot Locker reports lower adj. earnings for Q4 2023; sales up 2% first appeared on AlphaStreet.


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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