Foot Locker's Stock Plummets On Grim FY22 Outlook, Vendor Mix
Foot Locker Inc (NYSE:FL) reported fourth-quarter FY21 sales growth of 6.9% year-on-year, to $2.34 billion, narrowly beating the consensus of $2.33 billion. Q4 comparable-store sales increased by 0.8%, with apparel significantly outpacing footwear. The gross margin fell 10 basis points to 33%, with strong merchandise margin gains offset by occupancy deleverage. Selling, general…
Benzinga ·