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Alfred Gray
@alfredgray · Nov 30

FOOT LOCKER RESULTS

Results

Comparable sales decreased by 8%. Analysts were expecting a 9.88% decline. The total number of stores fell 6.7% year-over-year to 2,607, while analysts were expecting 2,557.

Foot Locker also disclosed its intention to enter the Indian market in 2024 through a long-term licensing agreement with one of India's largest footwear retailers, Metro Brands Limited. Under the agreement, Metro Brands Limited will have the exclusive right to own and operate Foot Locker stores in India.

MD
Monday Dayton @mondaydayton Nov 30

Interesting news about India. Like in this sector I only follow $NKE and it's kind of those shoes intertwined I guess? ...I've seen this company go down significantly now but it looks like they're going to hold their ground and with this going to market in India it could be a big boon for them and so as a potential I like it ...how do you see it? 😊

AG
Alfred Gray @alfredgray Dec 1

It may seem so since Footlocker's sales are mostly from (Nike+Jordan.) Anyway, this move is great for them since sneakers (even the collectible ones that foot locker offers.) can affect their sales quite significantly, so for me they are doing very well since the Indian market offers a lot of opportunities for them :)