Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year

Benzinga03:53

Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. (NYSE:FL) with a Buy rating and a price forecast of $27. The analyst writes that Foot Locker is positioned for an earnings recovery in...

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(NYSE:FL) with a Buy rating and a price forecast of $27.\nThe analyst writes that Foot Locker is positioned for an earnings recovery in...</p>\n\n<a href=\"https://finance.yahoo.com/news/foot-locker-gain-strengthened-partnership-195326173.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nFoot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-23 03:53 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/foot-locker-gain-strengthened-partnership-195326173.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. (NYSE:FL) with a Buy rating and a price forecast of $27.\nThe analyst writes that Foot Locker is positioned for an earnings recovery in...</p>\n\n<a href=\"https://finance.yahoo.com/news/foot-locker-gain-strengthened-partnership-195326173.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FL","symbol_name":"富乐客","start_time":0,"source_url":"https://finance.yahoo.com/news/foot-locker-gain-strengthened-partnership-195326173.html","article_id":"2485150122","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/IVVuP1Z3ls4Chp7sYXbIqw--~B/aD01NjM7dz0xMDAwO2FwcGlkPXl0YWNoeW9u/https://media.zenfs.com/en/Benzinga/c1155ef2dd7af05eee7cc3713e954de2"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485150122","pubTimestamp":1732305206,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc.  with a Buy rating and a price forecast of $27.The analyst writes that Foot Locker is positioned for an earnings recovery in 2025, with improvements expected from a strengthened Nike, Inc partnership, growth in non-Nike brands, recent SG&A investments, and the recovery of merchandise margins.Despite a current lull post-back-to-school, the analyst expects trends to pick up after Thanksgiving and is encouraged by a recent consumer survey indicating strong holiday interest in sneakers.Nikic notes that Foot Locker faced challenges due to Nike’s decision to reduce high-demand product supply but believes Nike’s shift to increase product allocations to Foot Locker starting in the fourth-quarter of 2024 will drive positive sales growth.Additionally, Foot Locker is benefiting from expanding Hoka and On availability, along with strengthened relationships with brands like Adidas AG, New Balance, Crocs, Inc., and UGG.The analyst exp","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"FL":"富乐客","NKE":"耐克"},"translate_title":"Foot Locker将从与耐克加强合作伙伴关系中获益：分析师预测明年盈利将复苏","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"FL":1,"NKE":1},"content_text":"Needham analyst Tom Nikic initiated coverage on Foot Locker, Inc. (NYSE:FL) with a Buy rating and a price forecast of $27.\nThe analyst writes that Foot Locker is positioned for an earnings recovery in 2025, with improvements expected from a strengthened Nike, Inc partnership, growth in non-Nike brands, recent SG&A investments, and the recovery of merchandise margins.\nDespite a current lull post-back-to-school, the analyst expects trends to pick up after Thanksgiving and is encouraged by a recent consumer survey indicating strong holiday interest in sneakers.\nNikic notes that Foot Locker faced challenges due to Nike’s decision to reduce high-demand product supply but believes Nike’s shift to increase product allocations to Foot Locker starting in the fourth-quarter of 2024 will drive positive sales growth.\nAlso Read: California Has The Finest Weed In The World, Says Lab Expert, And How To Save Its Struggling Market\nAdditionally, Foot Locker is benefiting from expanding Hoka and On availability, along with strengthened relationships with brands like Adidas AG, New Balance, Crocs, Inc., and UGG.\nThe analyst explains that Foot Locker’s EBIT margin was significantly lower last year compared to pre-COVID levels and is only expected to see modest improvement in FY24 due to aggressive long-term growth investments.\nHowever, as spending tapers off next year, Foot Locker is expected to leverage these investments to expand margins.\nAdditionally, with merchandise margins still over 300bps below pre-COVID levels, there is further opportunity for gross margin improvement, Nikic adds.\nThe analyst projects the company to report FY24 revenues of $8.164 billion and earnings per share of $1.61.\nPrice Action: FL stock is up 1.67% at $22.83 at last check Friday.\nPhoto by Sorbis via Shutterstock\nRead Next:\n\nDOJ Targets Google Chrome, Poll Shows 64% Oppose Alphabet Breakup: YouTube Seen As Top Prize\n\nLatest Ratings for FL\n\n\n\nDate\nFirm\nAction\nFrom\nTo\n\n\n\n\nMar 2022\nArgus Research\nDowngrades\nBuy\nHold\n\n\nMar 2022\nBarclays\nDowngrades\nOverweight\nUnderweight\n\n\nMar 2022\nB. Riley Securities\nDowngrades\nBuy\nNeutral\n\n\n\n View More Analyst Ratings for FL \n View the Latest Analyst Ratings \nUNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets.\nGet the latest stock analysis from Benzinga?\n\nFOOT LOCKER (FL): Free Stock Analysis Report\n\nThis article Foot Locker To Gain From Strengthened Partnership With Nike: Analyst Forecasts Earnings Recovery Next Year originally appeared on Benzinga.com\n© 2024 Benzinga.com. Benzinga does not provide investment advice. 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