Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year [Yahoo! Finance]
Foot Locker, Inc. (FL)
Last foot locker, inc. earnings: 2/28 06:45 am
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Source: Yahoo! Finance
The analyst expects improvements from a strengthened Nike partnership, growth in non-Nike brands, recent SG&A investments, and the recovery of merchandise margins to drive Foot Locker's earnings recovery in 2025. According to the analyst, Nike's shift to increase product allocations to Foot Locker starting in the fourth-quarter of 2024 will drive positive sales growth for the company. The analyst expects Foot Locker's EBIT margin to see modest improvement in FY24 due to aggressive long-term growth investments, and further opportunity for gross margin improvement as merchandise margins are still over 300bps below pre-COVID levels. The analyst projects Foot Locker to report FY24 revenues of $8.164 billion and earnings per share of $1.61. Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. (NYSE: FL ) with a Buy rating and a price forecast of $27 The analyst writes that Foot Locker is positioned for an earnings recovery in 2025, with improvements expected from a
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News
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- Foot Locker, Inc. (NYSE: FL) is now covered by analysts at Needham & Company LLC. They set a "buy" rating and a $27.00 price target on the stock.MarketBeat
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FL
Earnings
- 8/28/24 - Beat
FL
Sec Filings
- 11/18/24 - Form 4
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- FL's page on the SEC website