Foot Locker Non-GAAP EPS of -$0.05 beats by $0.02, revenue of $1.9B beats by $10M (NYSE:FL)

Metric

Prior Guidance

Updated

Commentary

Sales Change

-1.0% to +1.0%

-1.0% to +1.0%

~1% headwind from lapping the 53^rd week in 2023

Comparable Sales Change

+1.0 to +3.0%

+1.0 to +3.0%

Store Count Change

Down ~4%

Down ~4%

Square Footage Change

Down ~1%

Down ~2%

Slightly fewer WSS openings

Licensing Revenue

~$17 million

~$17 million

Gross Margin

29.8% to 30.0%

29.5% to 29.7%

Promotional pressure in international and WSS

SG&A Rate

24.4% to 24.6%

24.1% to 24.3%

Ongoing investment spending

D&A

$210 to $215 million

$210 to $215 million

EBIT Margin

2.8% to 3.2%

2.8% to 3.2%

Net Interest

~$12 million

~$10 million

Non-GAAP Tax Rate

35.0% to 36.0%

33.0% to 34.0%

Non-GAAP EPS

$1.50 to $1.70

$1.50 to $1.70

Includes a $0.09 drag from non-recurring FLX charge

Capital Expenditures

$290 million

$275 million

Slightly fewer WSS openings

Adj. Capital Expenditures*

$345 million

$330 million

Includes ~$55 million in technology investment reflected in operating cash flows