- Total Sales Decreased 11.4%; Comparable-Store Sales
Decreased 9.1%
- EPS of $0.38 and Non-GAAP EPS
$0.70
- Lowering 2023 Sales and Earnings Guidance
- Announces Retail Industry Veteran Mike Baughn as Chief
Financial Officer
NEW
YORK, May 19, 2023 /PRNewswire/ -- Foot
Locker, Inc. (NYSE: FL), the New
York-based specialty athletic retailer, today reported
financial results for its first quarter ended April 29, 2023.
"Coming off the recent launch of our Lace Up Strategy at our
Investor Day in March, we are making early progress in building a
strong foundation to return to sustainable growth beyond this
year," said Mary Dillon, President
and Chief Executive Officer. "However, our sales have since
softened meaningfully given the tough macroeconomic backdrop,
causing us to reduce our guidance for the year as we take more
aggressive markdowns to both drive demand and manage
inventory."
Ms. Dillon continued, "Despite the challenging near-term trends,
we remain committed to our long-term strategy, including making the
necessary investments to drive our Lace Up plan, and maintain
conviction in our ability to execute against our new strategic
imperatives."
First Quarter Results
- Comparable-store sales decreased by 9.1%, driven by
macroeconomic headwinds, including lower income tax refunds in
the United States, as well as the
changing vendor mix and our repositioning of Champs Sports.
- Total sales decreased by 11.4%, to $1,927 million, compared with sales of
$2,175 million in the first quarter
of 2022. Excluding the effect of foreign exchange rate
fluctuations, total sales for the first quarter decreased by
10%.
Please refer to the Sales by Banner table below for detailed sales
performance by banner and region.
- Gross margin declined by 400 basis points compared with the
prior-year period, driven by a combination of higher markdowns
compared to historically low levels in the prior year, and
occupancy deleverage, as well as an increase in theft-related
shrink.
- SG&A increased by 110 basis points as a percentage of sales
compared with the prior year, with savings from the cost
optimization program more than offset by underlying deleverage on
the sales decline, inflation, and investments in front-line wages
and technology.
- Net income decreased to $36
million as compared with $133
million in the first quarter of fiscal 2022. Non-GAAP net
income decreased to $66 million from
$155 million in the prior-year
period.
- EPS decreased to $0.38 per share,
versus $1.37 in the first quarter of
fiscal 2022. Non-GAAP EPS decreased to $0.70 per share compared with non-GAAP EPS of
$1.60 in the prior-year period.
Balance Sheet
At quarter-end, the Company's cash and cash equivalents
totaled $313 million, while debt on its balance sheet
was $451 million.
As of April 29, 2023, the Company's merchandise inventories
totaled $1,758 million, 25% higher than at the end of the
first quarter last year.
Dividend and Share Repurchases
During the first quarter of 2023, the Company paid a quarterly
dividend of $0.40 per share for a total of $38 million.
The Board of Directors declared a quarterly cash dividend on the
Company's common stock of $0.40 per
share, which will be payable on July 28,
2023, to shareholders of record on July 14, 2023.
Store Base Update
During the first quarter, the
Company opened 13 new stores, remodeled, or relocated 18 stores,
and closed 35 stores.
As of April 29, 2023, the Company
operated 2,692 stores in 29 countries in North America,
Europe, Asia, Australia, and New
Zealand. In addition, 163 franchised stores were
operating in the Middle East and Asia
2023 Financial Outlook
Fiscal year 2023 represents the
53 weeks ending February 3,
2024. The Company's full year 2023 outlook, which includes
the 53rd week, is summarized in the table below.
Metric
|
Prior
Guidance
|
Updated
Guidance
|
Commentary
|
Sales Change
|
Down 3.5% to
5.5%
|
Down 6.5% to
8.0%
|
Including ~1% from the
extra
week
|
Comparable Sales
Change
|
Down 3.5% to
5.5%
|
Down 7.5% to
9.0%
|
Softer sales
through balance
of year
|
Square Footage
Change
|
Down ~4%
|
|
|
Licensing
Revenue
|
~$20 million
|
~$20
million
|
|
Gross Margin
|
30.8% to
31.0%
|
28.6% to
28.8%
|
More aggressive
markdowns
and higher shrink
|
SG&A
Rate
|
22.6% to
22.8%
|
22.4% to
22.6%
|
Solid expense
management
|
D&A
|
~$205
million
|
~$205
million
|
|
Interest
|
~$12 million
|
~$16 million
|
Less interest
income on lower
cash balance
|
Non-GAAP Tax
Rate
|
31.5% to
31.7%
|
32.9% to
33.1%
|
Higher on
geographic mix of
income
|
Non-GAAP EPS
|
$3.35-$3.65
including
$0.15 from the extra week
|
$2.00-$2.25
|
|
Adj. Capital
Expenditures*
|
~$305
million
|
~$305
million
|
|
|
* Adjusted Capex
includes capitalized Technology expense
|
The Company provides earnings guidance only on a non-GAAP basis
and does not provide a reconciliation of the Company's
forward-looking tax rate, capital expenditures, and diluted
earnings per share guidance to the most directly comparable GAAP
financial measures because of the inherent difficulty in
forecasting and quantifying certain amounts that are necessary for
such reconciliations.
Chief Financial Officer Appointment
Today, Foot Locker, Inc., announces the appointment of
Mike Baughn as Executive Vice
President and Chief Financial Officer, effective June 12, 2023.
Mike joins us from Kohl's Corporation where he most recently
served as Executive Vice President of Finance and Treasurer. He
brings to Foot Locker more than 15 years of experience in various
financial leadership roles across Kohl's.
Mike will report directly to Mary
Dillon, President, and Chief Executive Officer, and oversee
Foot Locker, Inc.'s financial initiatives and position the company
for long-term growth.
With Mike's start, Robert
Higginbotham, Interim Chief Financial Officer, will resume
his role as Senior Vice President, Investor Relations, and
Financial Planning & Analysis, reporting to Mike.
"Following a rigorous search process, we are thrilled to welcome
to our leadership team, Mike Baughn,
whose role will be instrumental in delivering our Lace Up plan,"
said Mary Dillon. "I am confident
Mike will further accelerate our new set of strategic imperatives
and financial objectives designed to set us up for the next 50
years of growth. Let me also thank Rob for his leadership of the
finance organization while we conducted the search, ongoing
contributions, and critical role in launching our strategy at our
Investor Day."
"Foot Locker is a cultural staple that has led the footwear
category for nearly 50 years. I am honored to join this incredible
team as CFO at such a pivotal time for the company as they deliver
the Lace Up plan," said Mike Baughn.
"Foot Locker has a rich heritage to build upon and I am looking
forward to working closely with Mary
Dillon and the leadership team to ensure great customer
experiences, as well as value for our stakeholders."
Conference Call and Webcast
The Company is hosting a
live conference call at 9:00 a.m. ET
today, May 19, 2023, to review these
results and provide an update on the business. An investor
presentation will be available under the Investor Relations section
of the Company's corporate website before the start of the
conference call. This conference call may be accessed live by
calling toll-free 1-844-701-1163 or international toll
1-412-317-5490, or via the Investor Relations section of
footlocker-inc.com. Please log on to the website 15 minutes prior
to the call to register. An archived replay of the conference call
can be accessed approximately one hour following the end of the
call at 1-877-344–7529 in the U.S. or 1-855-669-9658 in
Canada or 1-412-317-0088
internationally with passcode 6393779 through June 2, 2023. A replay of the call will also be
available via webcast from footlocker-inc.com.
Disclosure Regarding Forward-Looking
Statements
This report contains forward-looking statements within the
meaning of the federal securities laws. Other than statements of
historical facts, all statements which address activities, events,
or developments that the Company anticipates will or may occur in
the future, including, but not limited to, such things as future
capital expenditures, expansion, strategic plans, financial
objectives, dividend payments, stock repurchases, growth of the
Company's business and operations, including future cash
flows, revenues, and earnings, and other such matters, are
forward-looking statements. These forward-looking statements are
based on many assumptions and factors, which are detailed in the
Company's filings with the U.S. Securities and Exchange
Commission.
These forward-looking statements are based largely on our
expectations and judgments and are subject to a number of risks and
uncertainties, many of which are unforeseeable and beyond our
control. For additional discussion regarding risks and
uncertainties that may affect forward-looking statements, see
"Risk Factors" disclosed in the Company's Annual
Report on Form 10-K for the year ended January 28, 2023, filed on March 27, 2023. Any changes in such assumptions
or factors could produce significantly different results. The
Company undertakes no obligation to update the forward-looking
statements, whether as a result of new information, future events,
or otherwise.
FOOT LOCKER,
INC.
|
.Condensed
Consolidated Statements of Operations
(unaudited)
|
|
Periods ended April
29, 2023, and April 30, 2022 (In millions, except
per share amounts)
|
|
|
|
First
Quarter
|
|
|
|
2023
|
|
|
2022
|
|
Sales
|
|
$
|
1,927
|
|
|
$
|
2,175
|
|
Licensing
revenue
|
|
|
4
|
|
|
|
3
|
|
Total
revenue
|
|
|
1,931
|
|
|
|
2,178
|
|
|
|
|
|
|
|
|
Cost of
sales
|
|
|
1,349
|
|
|
|
1,435
|
|
Selling, general and
administrative expenses
|
|
|
431
|
|
|
|
463
|
|
Depreciation and
amortization
|
|
|
51
|
|
|
|
54
|
|
Impairment and
other
|
|
|
39
|
|
|
|
6
|
|
Income from
operations
|
|
|
61
|
|
|
|
220
|
|
|
|
|
|
|
|
|
Interest expense,
net
|
|
|
(1)
|
|
|
|
(5)
|
|
Other income /
(expense), net
|
|
|
(3)
|
|
|
|
(25)
|
|
Income before income
taxes
|
|
|
57
|
|
|
|
190
|
|
Income tax
expense
|
|
|
21
|
|
|
|
58
|
|
Net income
|
|
|
36
|
|
|
|
132
|
|
Net loss attributable
to noncontrolling interests
|
|
|
—
|
|
|
|
1
|
|
Net income attributable
to Foot Locker, Inc.
|
|
$
|
36
|
|
|
$
|
133
|
|
|
|
|
|
|
|
|
Diluted earnings per
share
|
|
$
|
0.38
|
|
|
$
|
1.37
|
|
Weighted-average
diluted shares outstanding
|
|
|
95.1
|
|
|
|
97.2
|
|
Non-GAAP Financial Measures
In addition to reporting the Company's financial results in
accordance with generally accepted accounting principles ("GAAP"),
the Company reports certain financial results that differ from what
is reported under GAAP. Non-GAAP financial measures that will be
presented will exclude (i) gains or losses related to our minority
investments, (ii) impairments and other, and (iii) certain tax
matters that we believe are nonrecurring or unusual in nature.
Certain financial measures are identified as non-GAAP, such as
sales changes excluding foreign currency fluctuations, adjusted
income before income taxes, adjusted net income, and adjusted
diluted earnings per share. We present certain amounts as excluding
the effects of foreign currency fluctuations, which are also
considered non-GAAP measures. Where amounts are expressed as
excluding the effects of foreign currency fluctuations, such
changes are determined by translating all amounts in both years
using the prior-year average foreign exchange rates. Presenting
amounts on a constant currency basis is useful to investors because
it enables them to better understand the changes in our business
that are not related to currency movements.
These non-GAAP measures are presented because we believe they
assist investors in comparing our performance across reporting
periods on a consistent basis by excluding items that we do not
believe are indicative of our core business or affect
comparability. In addition, these non-GAAP measures are useful in
assessing our progress in achieving our long-term financial
objectives and are consistent with how executive compensation is
determined.
We estimate the tax effect of all non-GAAP adjustments by
applying a marginal tax rate to each item. The income tax items
represent the discrete amount that affected the period. The
non-GAAP financial information is provided in addition, and not as
an alternative, to our reported results prepared in accordance with
GAAP. The various non-GAAP adjustments are summarized in the tables
below.
FOOT LOCKER,
INC.
|
Non-GAAP
Reconciliation (unaudited)
|
|
Periods ended April
29, 2023, and April 30, 2022 (In millions,
except per share amounts)
|
|
Reconciliation of
GAAP to non-GAAP results:
|
|
|
|
First
Quarter
|
|
|
|
2023
|
|
|
2022
|
|
Pre-tax
income:
|
|
|
|
|
|
|
|
|
Income before income
taxes
|
|
$
|
57
|
|
|
$
|
190
|
|
Pre-tax adjustments
excluded from GAAP:
|
|
|
|
|
|
|
|
Impairment and
other (1)
|
|
|
39
|
|
|
|
6
|
|
Other income /
expense (2)
|
|
|
1
|
|
|
|
24
|
|
Adjusted income before
income taxes (non-GAAP)
|
|
$
|
97
|
|
|
$
|
220
|
|
|
|
|
|
|
|
|
|
|
After-tax
income:
|
|
|
|
|
|
|
|
|
Net income attributable
to Foot Locker, Inc.
|
|
$
|
36
|
|
|
$
|
133
|
|
After-tax adjustments
excluded from GAAP:
|
|
|
|
|
|
|
|
Impairment and other,
net of income tax benefit of $6 and $2 million, respectively
(1)
|
|
|
33
|
|
|
|
4
|
|
Other income /
expense, net of income tax benefit of $- and $6 million,
respectively (2)
|
|
|
1
|
|
|
|
18
|
|
Tax reserves
benefit (3)
|
|
|
(4)
|
|
|
|
—
|
|
Adjusted net income
(non-GAAP)
|
|
$
|
66
|
|
|
$
|
155
|
|
|
|
|
First
Quarter
|
|
|
|
2023
|
|
|
|
2022
|
|
Earnings per
share:
|
|
|
|
|
|
|
|
|
Diluted earnings per
share
|
|
$
|
0.38
|
|
|
$
|
1.37
|
|
Diluted EPS amounts
excluded from GAAP:
|
|
|
|
|
|
|
|
|
Impairment and
other (1)
|
|
|
0.36
|
|
|
|
0.05
|
|
Other income /
expense (2)
|
|
|
—
|
|
|
|
0.18
|
|
Tax reserves
benefit (3)
|
|
|
(0.04)
|
|
|
|
—
|
|
Adjusted diluted
earnings per share (non-GAAP)
|
|
$
|
0.70
|
|
|
$
|
1.60
|
|
Notes on Non-GAAP
Adjustments:
|
|
(1)
|
For the first
quarter of 2023, impairment and other included transformation
consulting expense of $19 million, impairment
charges of $18 million, primarily accelerated tenancy
charges on right-of-use assets for the closures of the Sidestep
banner and certain Foot Locker Asia stores, and $2 million of
reorganizations costs, primarily related to the announced
closure of a North American distribution center, and other
costs associated with the closures of the Sidestep banner and
certain Foot Locker Asia stores.
For the first quarter
of 2022, impairment and other included $3 million of
impairment of long-lived assets and right-of-use assets and
accelerated tenancy charges, $2 million of acquisition and
integration costs related to WSS and atmos, and $1 million of other
expenses.
|
|
|
(2)
|
For the first
quarter of 2023, other expense
represented of our share of losses related to equity
method investments of $1 million.
For the first
quarter of 2022, other expense primarily consisted of a
$25 million loss on the change in fair value of our previous
investment in Retailors, Ltd., a publicly-listed entity, which was
partially offset by $1 million of dividend income and income from
other various equity method investments.
|
|
|
(3)
|
In the
first quarter of 2023, the Company recorded a $4 million
benefit related to income tax reserves due to a statute of
limitations release.
|
FOOT LOCKER,
INC.
|
Sales by
Banner (unaudited)
|
|
Periods ended April
29, 2023, and April 30, 2022 (In millions)
|
|
|
|
First
Quarter
|
|
|
|
2023
|
|
|
2022
|
|
|
Constant
Currencies
|
|
|
Comparable
Sales
|
|
Foot Locker
|
|
$
|
744
|
|
|
$
|
807
|
|
|
|
(7.2)
|
%
|
|
|
(5.5)
|
%
|
Champs
Sports
|
|
|
328
|
|
|
|
454
|
|
|
|
(27.3)
|
|
|
|
(24.6)
|
|
Kids Foot
Locker
|
|
|
167
|
|
|
|
180
|
|
|
|
(7.2)
|
|
|
|
(7.7)
|
|
WSS
|
|
|
150
|
|
|
|
138
|
|
|
|
8.7
|
|
|
|
(3.4)
|
|
Other
|
|
|
—
|
|
|
|
53
|
|
|
|
(100.0)
|
|
|
|
n.m.
|
|
North
America
|
|
|
1,389
|
|
|
|
1,632
|
|
|
|
(14.5)
|
|
|
|
(12.8)
|
|
Foot Locker
|
|
|
379
|
|
|
|
377
|
|
|
|
3.7
|
|
|
|
2.1
|
|
Sidestep
|
|
|
14
|
|
|
|
24
|
|
|
|
(41.7)
|
|
|
|
(37.8)
|
|
EMEA
|
|
|
393
|
|
|
|
401
|
|
|
|
1.0
|
|
|
|
(0.1)
|
|
Foot Locker
|
|
|
98
|
|
|
|
93
|
|
|
|
12.9
|
|
|
|
11.2
|
|
atmos
|
|
|
47
|
|
|
|
49
|
|
|
|
6.1
|
|
|
|
2.7
|
|
Asia Pacific
|
|
|
145
|
|
|
|
142
|
|
|
|
10.6
|
|
|
|
8.9
|
|
Total
|
|
$
|
1,927
|
|
|
$
|
2,175
|
|
|
|
(10.0)
|
%
|
|
|
(9.1)
|
%
|
FOOT LOCKER,
INC.
|
Condensed
Consolidated Balance Sheets (unaudited) (In
millions)
|
|
|
|
April
29,
|
|
|
April
30,
|
|
|
|
2023
|
|
|
2022
|
|
ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
assets:
|
|
|
|
|
|
|
|
|
Cash and cash
equivalents
|
|
$
|
313
|
|
|
$
|
551
|
|
Merchandise
inventories
|
|
|
1,758
|
|
|
|
1,401
|
|
Other current
assets
|
|
|
384
|
|
|
|
281
|
|
|
|
|
2,455
|
|
|
|
2,233
|
|
Property and equipment,
net
|
|
|
901
|
|
|
|
899
|
|
Operating lease
right-of-use assets
|
|
|
2,331
|
|
|
|
2,566
|
|
Deferred
taxes
|
|
|
94
|
|
|
|
79
|
|
Goodwill
|
|
|
781
|
|
|
|
783
|
|
Other intangible
assets, net
|
|
|
421
|
|
|
|
441
|
|
Minority
investments
|
|
|
629
|
|
|
|
759
|
|
Other assets
|
|
|
89
|
|
|
|
118
|
|
|
|
$
|
7,701
|
|
|
$
|
7,878
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current
liabilities:
|
|
|
|
|
|
|
|
|
Accounts
payable
|
|
$
|
474
|
|
|
$
|
565
|
|
Accrued and other
liabilities
|
|
|
505
|
|
|
|
428
|
|
Current portion of
long-term debt and obligations under finance leases
|
|
|
6
|
|
|
|
6
|
|
Current portion of
lease obligations
|
|
|
533
|
|
|
|
557
|
|
|
|
|
1,518
|
|
|
|
1,556
|
|
Long-term debt and
obligations under finance leases
|
|
|
445
|
|
|
|
450
|
|
Long-term lease
obligations
|
|
|
2,132
|
|
|
|
2,323
|
|
Other
liabilities
|
|
|
323
|
|
|
|
334
|
|
Total
liabilities
|
|
|
4,418
|
|
|
|
4,663
|
|
Total shareholders'
equity
|
|
|
3,283
|
|
|
|
3,215
|
|
|
|
$
|
7,701
|
|
|
$
|
7,878
|
|
FOOT LOCKER,
INC.
|
Condensed
Consolidated Statement of Cash
Flows (unaudited) (In millions)
|
|
|
|
Thirteen weeks
ended
|
|
|
|
April
29,
|
|
|
April
30,
|
|
($ in
millions)
|
|
2023
|
|
|
2022
|
|
From operating
activities:
|
|
|
|
|
|
|
|
|
Net income
|
|
$
|
36
|
|
|
$
|
132
|
|
Adjustments to
reconcile net income to net cash from operating
activities:
|
|
|
|
|
|
|
|
|
Non-cash impairment
and other
|
|
|
18
|
|
|
|
3
|
|
Fair value adjustments
to minority investments
|
|
|
—
|
|
|
|
25
|
|
Depreciation and
amortization
|
|
|
51
|
|
|
|
54
|
|
Deferred income
taxes
|
|
|
(4)
|
|
|
|
3
|
|
Share-based
compensation expense
|
|
|
2
|
|
|
|
7
|
|
Change in assets and
liabilities:
|
|
|
|
|
|
|
|
|
Merchandise
inventories
|
|
|
(117)
|
|
|
|
(150)
|
|
Accounts
payable
|
|
|
(16)
|
|
|
|
(25)
|
|
Accrued and other
liabilities
|
|
|
(30)
|
|
|
|
(80)
|
|
Other, net
|
|
|
(58)
|
|
|
|
10
|
|
Net cash used in
operating activities
|
|
|
(118)
|
|
|
|
(21)
|
|
From investing
activities:
|
|
|
|
|
|
|
|
|
Capital
expenditures
|
|
|
(59)
|
|
|
|
(95)
|
|
Purchase of business,
net of cash acquired
|
|
|
—
|
|
|
|
(7)
|
|
Minority
investments
|
|
|
—
|
|
|
|
(3)
|
|
Net cash used in
investing activities
|
|
|
(59)
|
|
|
|
(105)
|
|
From financing
activities:
|
|
|
|
|
|
|
|
|
Dividends paid on
common stock
|
|
|
(38)
|
|
|
|
(38)
|
|
Purchase of treasury
shares
|
|
|
—
|
|
|
|
(89)
|
|
Payment of obligations
under finance leases
|
|
|
(2)
|
|
|
|
(2)
|
|
Shares of common stock
repurchased to satisfy tax withholding obligations
|
|
|
(10)
|
|
|
|
(1)
|
|
Proceeds from exercise
of stock options
|
|
|
4
|
|
|
|
2
|
|
Net cash used in
financing activities
|
|
|
(46)
|
|
|
|
(128)
|
|
Effect of exchange rate
fluctuations on cash, cash equivalents, and restricted
cash
|
|
|
—
|
|
|
|
(1)
|
|
Net change in cash,
cash equivalents, and restricted cash
|
|
|
(223)
|
|
|
|
(255)
|
|
Cash, cash equivalents,
and restricted cash at beginning of year
|
|
|
582
|
|
|
|
850
|
|
Cash, cash
equivalents, and restricted cash at end of period
|
|
$
|
359
|
|
|
$
|
595
|
|
FOOT LOCKER,
INC.
|
Store Count and
Square Footage (unaudited)
|
|
Store activity is as
follows:
|
|
|
|
January
28,
|
|
|
|
|
|
|
|
|
|
|
April
29,
|
|
|
Relocations/
|
|
|
|
2023
|
|
|
Opened
|
|
|
Closed
|
|
|
2023
|
|
|
Remodels
|
|
Foot Locker
U.S.
|
|
|
747
|
|
|
|
-
|
|
|
|
6
|
|
|
|
741
|
|
|
|
3
|
|
Foot Locker
Canada
|
|
|
86
|
|
|
|
-
|
|
|
|
1
|
|
|
|
85
|
|
|
|
4
|
|
Champs
Sports
|
|
|
486
|
|
|
|
-
|
|
|
|
5
|
|
|
|
481
|
|
|
|
-
|
|
Kids Foot
Locker
|
|
|
410
|
|
|
|
-
|
|
|
|
5
|
|
|
|
405
|
|
|
|
3
|
|
WSS
|
|
|
115
|
|
|
|
6
|
|
|
|
1
|
|
|
|
120
|
|
|
|
-
|
|
Footaction
|
|
|
2
|
|
|
|
-
|
|
|
|
-
|
|
|
|
2
|
|
|
|
-
|
|
North
America
|
|
|
1,846
|
|
|
|
6
|
|
|
|
18
|
|
|
|
1,834
|
|
|
|
10
|
|
Foot Locker
Europe
|
|
|
628
|
|
|
|
5
|
|
|
|
11
|
|
|
|
622
|
|
|
|
7
|
|
Sidestep
|
|
|
78
|
|
|
|
-
|
|
|
|
5
|
|
|
|
73
|
|
|
|
-
|
|
EMEA
|
|
|
706
|
|
|
|
5
|
|
|
|
16
|
|
|
|
695
|
|
|
|
7
|
|
Foot Locker
Pacific
|
|
|
94
|
|
|
|
1
|
|
|
|
-
|
|
|
|
95
|
|
|
|
1
|
|
Foot Locker
Asia
|
|
|
33
|
|
|
|
-
|
|
|
|
-
|
|
|
|
33
|
|
|
|
-
|
|
atmos
|
|
|
35
|
|
|
|
1
|
|
|
|
1
|
|
|
|
35
|
|
|
|
-
|
|
Asia Pacific
|
|
|
162
|
|
|
|
2
|
|
|
|
1
|
|
|
|
163
|
|
|
|
1
|
|
Total
|
|
|
2,714
|
|
|
|
13
|
|
|
|
35
|
|
|
|
2,692
|
|
|
|
18
|
|
Selling and gross
square footage are as follows:
|
|
|
|
April 30,
2022
|
|
|
April 29,
2023
|
|
(in
thousands)
|
|
Selling
|
|
|
Gross
|
|
|
Selling
|
|
|
Gross
|
|
Foot Locker
U.S.
|
|
|
2,393
|
|
|
|
4,134
|
|
|
|
2,351
|
|
|
|
4,025
|
|
Foot Locker
Canada
|
|
|
253
|
|
|
|
417
|
|
|
|
251
|
|
|
|
413
|
|
Champs
Sports
|
|
|
1,903
|
|
|
|
2,980
|
|
|
|
1,775
|
|
|
|
2,784
|
|
Kids Foot
Locker
|
|
|
760
|
|
|
|
1,292
|
|
|
|
767
|
|
|
|
1,295
|
|
WSS
|
|
|
972
|
|
|
|
1,223
|
|
|
|
1,235
|
|
|
|
1,479
|
|
Footaction
|
|
|
59
|
|
|
|
104
|
|
|
|
6
|
|
|
|
11
|
|
North
America
|
|
|
6,340
|
|
|
|
10,150
|
|
|
|
6,385
|
|
|
|
10,007
|
|
Foot Locker
Europe
|
|
|
1,085
|
|
|
|
2,256
|
|
|
|
1,140
|
|
|
|
2,339
|
|
Sidestep
|
|
|
101
|
|
|
|
191
|
|
|
|
93
|
|
|
|
179
|
|
EMEA
|
|
|
1,186
|
|
|
|
2,447
|
|
|
|
1,233
|
|
|
|
2,518
|
|
Foot Locker
Pacific
|
|
|
192
|
|
|
|
299
|
|
|
|
216
|
|
|
|
331
|
|
Foot Locker
Asia
|
|
|
114
|
|
|
|
199
|
|
|
|
126
|
|
|
|
233
|
|
atmos
|
|
|
38
|
|
|
|
65
|
|
|
|
36
|
|
|
|
62
|
|
Asia Pacific
|
|
|
344
|
|
|
|
563
|
|
|
|
378
|
|
|
|
626
|
|
Total
|
|
|
7,870
|
|
|
|
13,160
|
|
|
|
7,996
|
|
|
|
13,151
|
|
Contact:
Robert Higginbotham
Interim Chief Financial Officer
ir@footlocker.com
(212) 720-4600
View original
content:https://www.prnewswire.com/news-releases/foot-locker-inc-reports-2023-first-quarter-results-301829162.html
SOURCE Foot Locker IR