Foot Locker: reduces FY guidance
(CercleFinance.com) - Sporting goods chain Foot Locker has reduced its guidance for the current fiscal year, now expecting non-GAAP EPS of $2 to $2.
25, as well as a 6.5% to 8% decline in revenue (-7.5% to -9% LFL).
Note the share's 25% drubbing in pre-market trading today.
In Q1, non-GAAP EPS slumped to $0.70 from $1.60 a year ago, on sales that fell 11.4% to $1.93bn (-9.1% LFL).
The group says it's sales have slowed significantly in a difficult macroeconomic environment, which has led it to reduce its forecasts as it makes more aggressive markdowns to stimulate demand and manage inventory.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
25, as well as a 6.5% to 8% decline in revenue (-7.5% to -9% LFL).
Note the share's 25% drubbing in pre-market trading today.
In Q1, non-GAAP EPS slumped to $0.70 from $1.60 a year ago, on sales that fell 11.4% to $1.93bn (-9.1% LFL).
The group says it's sales have slowed significantly in a difficult macroeconomic environment, which has led it to reduce its forecasts as it makes more aggressive markdowns to stimulate demand and manage inventory.
Copyright (c) 2023 CercleFinance.com. All rights reserved.