Foot Locker reports Q2 adjusted EPS (27c), consensus 10c

Reports Q2 revenue $1.85B, consensus $1.87B. Comparable sales decreased by 2.0%, with comparable sales in North America generating a comparable increase of 1.4%. Mary Dillon, CEO said, “In the second quarter, we built sequential momentum and delivered positive North American comparable sales results led by our Foot Locker (FL), Kids Foot Locker, and Champs Sports banners, including a positive start to the Back-to-School season in July. At the same time, our results reflect a challenging operating environment and soft store traffic trends, particularly in our WSS and international businesses. Our team continued to execute our Lace Up Plan, remaining focused on elevating our customers’ experiences by leveraging our strong brand partnerships, enhancing our store base through our Refresh and Reimagined programs, improving our digital platforms, and deepening global engagement through our FLX Rewards Program.”