By Kuldip K. Ambastha
On the trading day of Friday, August 19, 2022, the stock price of Foot Locker, Inc. (FL), a multi-channel athletic shoe and apparel retailer, rose by +20.0% per share. For 2Q2022, the company reported a $0.99 earnings per share (EPS) figure, which surpassed expectations. That said, the company also disclosed a $2.07 billion total sales figure, a decline from the prior quarter which now leads company management to expect a decline in total sales for the year of 2022. Aside from performance figures, the biggest Foot Locker news driving the stock price increase was on the Chief Executive Officer (CEO) transition front. Dick Johnson will be retiring effective Thursday, September 1, 2022, and will be succeeded by the well-respected and highly experienced Mary Dillon who Wall Street is expecting will initiate bold, new strategies at Foot Locker.
Keywords – Foot Locker, Inc., Foot Locker, FL, multi-channel, athletic, shoe, apparel, retailer, retail, earnings per share, EPS, sales, strategies, 2Q2022, 2022, Chief Executive Officer, CEO, Dick Johnson, Mary Dillon, Wall Street.
Disclosure – The principals and clients of Ambastha Financial LLC have no positions in FL.
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