Earnings Summary: Foot Locker Q2 FY25 loss widens on lower sales

Foot Locker, Inc. (NYSE: FL), a leading footwear and apparel retailer, reported a wider net loss for the second quarter of fiscal 2025, reflecting a year-over-year decrease in sales.

• Second-quarter sales decreased 2.4% to $1.85 billion from $1.90 billion in Q2 of 2024
• Excluding the effect of foreign exchange rate fluctuations, sales decreased 3.7% during the three months
• Q2 comparable sales declined 2.0% YoY; comparable sales in North America generated a comparable increase of 1.4%
• The company reported a net loss of $38 million for the July quarter, compared to a loss of $12 million in the prior-year period
• On a per-share basis, the second-quarter loss was $0.39, vs. a loss per share of $0.13 in the year-ago quarter
• On an adjusted basis, net loss widened to $27 million in Q2 from $4 million in the corresponding prior-year period
• On a per-share basis, adjusted loss widened to $0.27 from $0.05 in the comparable quarter of fiscal 2024
• During the quarter, Foot Locker opened 2 new stores and closed 11 stores; it also remodeled or relocated 14 stores and refreshed 52 stores to its updated design standards