Foot Locker said Wednesday it expects another year of deep discounts in the sneaker industry as its largest brand partner Nike continues its reset and relies on markdowns to clear through stale inventory.Â
The footwear giant delivered mix results for its holiday quarter, beating Wall Street’s expectations on earnings but falling short on sales. In the year ahead, it anticipates that trend will reverse. For fiscal 2025, Foot Locker is expecting profits to be lower than Wall Street estimated, while the high end of its comparable sales guidance is better than analysts had forecast, according to LSEG and StreetAccount.Â
Here’s how Foot Locker performed in its fiscal fourth quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:
- Earnings per share: 86 cents adjusted vs. 72 cents expected
- Revenue: $2.25 billion vs. $2.32 billion expected
The company’s reported net income for the three-month period that…
