Foot Locker Inc

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SKU: FL Category:

Description

Despite operating in a turbulent market, including inflationary pressure on the consumer around the world, Foot Locker generated better-than-expected results and managed to surpass Wall Street expectations on all fronts. Due to strong brand consistency across the board and successful back-to-school marketing initiatives, Kids Foot Locker had mid-single-digit growth. Sales from WSS were $162 million for the quarter, with comps recovering from the second quarter’s low single-digit decline. They also continue to purposefully pivot their business off-mall. Besides, during the quarter, they added nearly 20 new Foot Locker community and power shops, putting them around 150 doors closer to their target of 300 locations worldwide by 2024. Additionally, Foot Locker extended its partnership with Puma to connect with next-generation consumers through exclusive basketball and other high-end partnerships. They also hosted a holiday house party for sneaker fans as part of their first-ever fully integrated global marketing campaign. We maintain our ‘Hold’ rating on the stock with a revised target price.

Our Report Structure

• Company Overview
• Investment Thesis
• Key Drivers
• Historical Quarterly Statement Analysis – Income Statement & Cash Flows
• Historical Quarterly Balance Sheet Analysis
• Historical Annual Financial Statement Analysis
• Analysis Of Key Financial Ratios
• Financial Forecasts For 3 Years
• Forecasting The Capital Structure & Net Debt
• Discounted Cash Flow Valuation
• Trading Multiples
• Key Risks
• Disclosures

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