Foot Locker Reports Strong Profit Growth in Q2 Earnings Update
Gross Margin Expansion and Strong Sales Growth Drive Foot Locker's Q2 Performance
Foot Locker, Inc. [FL] reported a net loss of $12 million for the second quarter ended August 3, 2024. This figure represents a decrease from the net loss of $5 million in the previous quarter, marking a notable financial update for the company.
The company, headquartered in New York, NY, reported to SEC in an 8-K filing $-0.13 earnings per share in the quarter, compared to $-0.05 in the previous quarter.
Foot Locker, a renowned player in the retail industry, reported revenue of $1.896 billion. This marks an increase from the previous quarter, where revenue stood at $1.861 billion. The company's financial performance reflects its strategic positioning in the market.
In comparison to the same quarter in the previous year, Foot Locker's revenue for the current quarter saw a slight increase, standing at $1.896 billion compared to $1.896 billion in the previous year. Additionally, the company experienced a substantial percentage change in profit or loss, with the current quarter reporting a net loss of $12 million compared to a net loss of $4 million in the same quarter of the previous year.
