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Foot Locker Talks of a More Promotional Environment, Softening Consumer Spending

publication date: Dec 5, 2024
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Image Source: Foot Locker. 

Looking to all of 2024, Foot Locker now expects sales growth to be -1.5% to -1% from -1% to +1% previously and comparable store sales growth of 1%-1.5%, down from the prior range of 1%-3%. It also lowered its EBIT margin outlook for the full year 2024 to the range of 2.3%-2.5% from 2.8%-3.2% previously. Non-GAAP earnings per share for the year is now targeted in the range of $1.20-$1.30 from $1.50-$1.70 previously. Given the disappointing outlook, we’re viewing Foot Locker as a put option idea candidate.


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