Foot Locker Q1 sales decline; CEO flags challenging macro trends

Comparable sales, also known as same-store sales or ‘comps’, refers to a metric that compares the sales of a company's existing stores (or locations) in a specific period to the same period in the previous year. It essentially isolates the performance of existing stores from the growth or decline caused by opening or closing new locations.

Net loss of Foot Locker is expected to be $363 million in Q1 2025 compared with a net income of $8 million in the corresponding period last year.

On a non-generally accepted accounting principles (GAAP) basis, Foot Locker’s net loss is expected to be $6 million for Q1 2025 compared with a net income of $21 million in the corresponding prior-year period, a company release said.

Foot Locker’s Q1 2025 loss per share is expected to be $3.81 compared with earnings per share of $0.09 in Q1 2024. Non-GAAP loss is expected to be $0.07 per share in Q1 2025 compared with non-GAAP earnings per share of $0.22 in the corresponding prior-year period.

Mary Dillon, chief executive officer, said, "Despite making ongoing progress with our Lace Up Plan, our preliminary first quarter results are below our expectations as we experienced softer traffic trends globally. We continued to manage our promotional levels and maintain inventory and expense discipline, and we have taken actionable steps to advance these efforts and remain nimble and well positioned in an uncertain macroeconomic backdrop."

Fibre2Fashion News Desk (DS)