FL Earnings: Highlights of Foot Locker’s Q1 2023 results

Apparel store chain Foot Locker, Inc. (NYSE: FL) on Friday announced financial results for the first quarter of 2023, reporting lower sales and earnings. First-quarter sales declined 11% to $1.93 billion from $2.18 billion in the same period of last year. The top line was affected by a 9.1% fall in comparable store sales. Net income, […]

May 19, 2023 1 min read

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Apparel store chain Foot Locker, Inc. (NYSE: FL) on Friday announced financial results for the first quarter of 2023, reporting lower sales and earnings. First-quarter sales declined 11% to $1.93 billion from $2.18 billion in the same period of last year. The top line was affected by a 9.1% fall in comparable store sales. Net income, […]
· May 19, 2023

Apparel store chain Foot Locker, Inc. (NYSE: FL) on Friday announced financial results for the first quarter of 2023, reporting lower sales and earnings.

Foot Locker Q1 2023 earnings infographic

First-quarter sales declined 11% to $1.93 billion from $2.18 billion in the same period of last year. The top line was affected by a 9.1% fall in comparable store sales.

Net income, adjusted for special items, dropped to $0.70 per share in the three-month period from $1.60 per share last year. Unadjusted profit came in at $36 million or $0.38 per share, down from last year’s profit of $133 million or $1.37 per share.

“Coming off the recent launch of our Lace Up Strategy at our Investor Day in March, we are making early progress in building a strong foundation to return to sustainable growth beyond this year,” said Mary Dillon, chief executive officer of Foot Locker.