- Foot Locker's (FL) profit outlook for this year didn't quite reach the heights expected, but the long-term prospects are looking up with new CEO Mary Dillon at the helm. The athletic shoes retailer announced Monday that it anticipates adjusted earnings of $3.35 to $3.65 per share, lower than the $4.11 per share predicted by analysts.
- Footlocker confidently forecasts that earnings will expand in the low- to mid-20s range for the period from 2024 to 2026. Analysts anticipate an impressive growth of 9.5% and 17.6% from prior years, predicting $4.50 and $5.29 per-share for fiscal 2024 and 2025 respectively.
Why it matters
Investors are eagerly awaiting the unveiling of the "Lace Up" plan at the company's Investor Day on Monday. With Dillon now at the helm, the future of the company looks bright as they look to expand their sneaker line, open new-format stores, and tie up loose ends by shutting down underperforming stores.
