Foot Locker Reports Net Income of $36 Million in First Quarter 2023
Revenue for Foot Locker in Q1 2023 Totals $1.93 Billion
Foot Locker.Inc,(FL) a leading retailer of athletic footwear and apparel, has announced its financial results for the first quarter of 2023. The company reported a net income of $36 million during this period, demonstrating a decline compared to the same quarter last year. Additionally, Foot Locker generated revenue amounting to $1.93 billion in Q1 2023.
Net Income of $36 Million Reflects Decrease Compared to Previous Year
Foot Locker's financial statements for the first quarter of 2023 reveal a net income of $36 million. This figure represents a significant decrease when compared to the same period in the previous year, where the company reported a net income of $133 million. The decline in net income can be attributed to various factors, including increased costs of sales, selling, general and administrative expenses, and impairment charges.
