🧵 1. Foot Locker reports first growth in comparable sales in 6 quarters, with a 2.6% increase, surpassing analyst expectations of 0.7%. #business
🧵 1. Foot Locker reports first growth in comparable sales in 6 quarters, with a 2.6% increase, surpassing analyst expectations of 0.7%. #business
🧵 2. Company's gross margin expands for the first time in over 2 years. Despite positive results, shares drop 5% in premarket trading.
🧵 3. CEO Mary Dillon attributes success to 'Lace Up Plan' strategy, citing strengthened top-line trends, solid Back-to-School start, and Champs Sports stabilization.
🧵 4. Foot Locker's quarterly loss amounts to $12 million, sales rise to $1.90 billion. Maintains fiscal year guidance expecting 1% decline to 1% growth.
🧵 5. Under CEO Mary Dillon's leadership, Foot Locker's turnaround efforts include store upgrades and focus on brand partnerships like Nike to stay relevant.
🧵 Read more at: https://www.cnbc.com/2024/08/28/foot-locker-fl-earnings-q2-2024.html