Foot Locker rises on FY forecast raise, India entry

Fsn E-Commerce Ventures

29/11/2023 14:10

** Shares of Foot Locker  FL.N  rise 8.2% to $25.8 before
the bell  
    ** Speciality athletic retailer's comparable sales fell 8%
for the third quarter, compared with analysts' average
expectations of a fall of 10.06%, as per LSEG data
    ** Co now sees full year 2023 comparable sales change to be
down 8.5% to 9.0%, reflecting Thanksgiving sales boost vs
previous guidance between 9.0% to 10.0%
    ** Co also announces India entry next year, in partnership
with Indian peer Metro Brands  METB.NS  and cosmetics-to-fashion
retailer Nykaa  FSNE.NS  
    ** 2 of 21 brokerages rate the stock "buy" or higher, 13
"hold" and 6 "sell" or lower
    ** Stock down ~36.91% YTD

    

 (Reporting by Evelyn Nikhila S)
 ((Evelynnikhila.s@thomsonreuters.com))