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
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 05, 2025 07:15 ET (12:15 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.