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Footwear Retailer Beats Earnings, Shares Surge On Strong Results

July 26, 2023
in Trade Tube
Reading Time: 1 min read
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Foot Locker stepped up its game on Friday, posting Q4 results that beat analyst estimates. The sportswear company reported earnings of $146 million or $1.00 per share, up from $0.81 this time last year. Sales were up 6.7 percent to $1.91 billion and shares of the company surged on the better-than-expected results. Foot Locker continues to see positive growth numbers under new CEO Richard Johnson who took over in December but the retailer is still struggling to get customers enthused about its workout clothes. Shoe purchases account for almost three quarters of the company’s sales.

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