Thursday, November 14, 2024

Foot Locker’s stock dives as price cuts hurt margins, profit outlook disappoints

Must read



Shares of Foot Locker Inc. took a tumble Wednesday, after the athletic shoe apparel retailer provided a full-year profit outlook that was below expectations, and pushed back the timing of reaching its target for adjusted margins by two years.

The downbeat outlook, which followed increased markdowns to reduce inventory at the end of the year, offset better-than-expected fourth-quarter results.

The…

Master your money.

Subscribe to MarketWatch.

Get this article and all of MarketWatch.

Access from any device. Anywhere. Anytime.


Subscribe Now



Source link

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article