Foot Locker Earnings Reports

Foot Locker faced a challenging quarter with a substantial GAAP net loss driven by impairment charges and macroeconomic pressures. Revenue and comparable sales declined, and the company continued executing its store refresh strategy while preparing for its merger with DICK'S Sporting Goods.

Foot Locker's Q4 2024 results showed a 5.8% decline in total sales but a 2.6% increase in comparable sales, indicating resilience in the core business. Gross margin expanded by 300 basis points, driven by improved merchandise margins. GAAP EPS stood at $0.57, while non-GAAP EPS was $0.86. The company also refreshed 160 stores in the quarter, contributing to over 400 store refreshes in 2024. Looking ahead, Foot Locker remains focused on strategic investments and cost control amid an uncertain retail environment.

Foot Locker, Inc. announced that Richard A. Johnson will retire as President and Chief Executive Officer, effective September 1, 2022. Mary N. Dillon has been appointed President and Chief Executive Officer and a member of the Foot Locker Board, also effective September 1, 2022.