1251 ET - Foot Locker's latest results show Nike, under new CEO Elliott Hill, is making progress in improving product direction and re-establishing wholesale ties, Jefferies analysts say in a research note. "Looking out, we have full confidence in our partnership and the steps the Nike team is taking for the brand and marketplace longer term," Foot Locker CEO Mary Dillon says on the earnings call. Jefferies sees this "reset" as foundational for long-term growth. "As Nike's channel inventories rebalance and product direction improves, we believe a substantial earnings recovery will ensue over the coming two years," Jefferies adds. Foot Locker is up 5.7%, while Nike slips 0.5%.(sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
March 05, 2025 12:51 ET (17:51 GMT)
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