By Mackenzie Tatananni
Foot Locker stock wavered in premarket trading Wednesday after the sneaker retailer missed analysts' expectations for fourth-quarter sales and issued weak guidance.
While adjusted earnings of 86 cents a share in the fourth quarter topped analysts' calls for 72 cents, total sales of $2.24 million missed expectations of $2.32 million, according to FactSet.
Shares of Foot Locker were down 0.5% in premarket trading.
Total sales for the fourth quarter decreased by 4.6%, excluding the effect of foreign exchange rate fluctuations, while comparable-store sales jumped 2.6% in the period. Foot Locker noted that the fourth quarter of 2023 was a week longer than 2024.
The retailer also issued its fiscal-year guidance for the year ending Jan. 31, 2026, saying it anticipates sales to grow between 0.5% and 1%. Foot Locker forecast earnings in the range of $1.35 to $1.65 a share, missing analysts' calls for $1.72 a share at the midpoint.
Write to Mackenzie Tatananni at mackenzie.tatananni@barrons.com
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(END) Dow Jones Newswires
March 05, 2025 07:15 ET (12:15 GMT)
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