Specialty athletic retailer Foot Locker, Inc. (NYSE: FL) Wednesday announced financial results for the third quarter of 2023, reporting a decrease in net sales and adjusted earnings.
Total sales declined 8.6% annually to $1.99 billion in the third quarter. Excluding the effect of foreign exchange rate fluctuations, sales dropped 10%. Comparable-store sales were down 8.0%.
Third-quarter net income was $28 million or $0.30 per share, compared to $96 million or $1.01 per share in the corresponding prior-year period. On an adjusted basis, earnings declined to $0.30 per share in Q3 from $1.27 per share last year.
