Foot Locker, Inc. (NYSE: FL), a leading footwear and apparel retailer, reported an increase in adjusted profit for the third quarter of 2024 and a modest decrease in sales.
Net sales decreased 1% annually to $1.96 billion in the third quarter. Excluding the effect of foreign exchange rate fluctuations, sales dropped by 2.2%. Comparable-store sales were up 2.4%.
On an adjusted basis, net income increased 10% year-over-year to $0.33 per share in the October quarter. On an unadjusted basis, the company reported a net loss of $33 million or $0.34 per share for Q3, compared to a profit of $28 million or $0.30 per share in the corresponding prior-year period.
