Added to YB: 2024-03-14
Pitch date: 2024-03-14
FL [bullish]
Foot Locker, Inc.
+5.72%
current return
Author Info
Lake Thoreau Investment Research is a former tech CFO who provides high-quality and actionable investment ideas. Sign up for the newsletter.
Company Info
Foot Locker, Inc., through its subsidiaries, operates as a footwear and apparel retailer in North America, Europe, the Middle East, Africa, Asia Pacific, and internationally.
Market Cap
$2.5B
Pitch Price
$22.71
Price Target
50.00 (+108%)
Dividend
N/A
EV/EBITDA
3.85
P/E
-7.00
EV/Sales
0.63
Sector
Specialty Retail
Category
turnaround
Position Update: $FL Earnings
FL: Stock fell 30% post-Q4 '23, weak '24 outlook. Lace Up strategy shows promise; 4.8%/6.9% comps growth in Foot Locker brands. 8% inventory drop, cost cuts at $135M/$350M. Push in marketing, digital, new app; gross margin down 350bps. Long-term EBIT margin goal delayed to '28. $50 PT, over 100% potential upside.
Read full article (3 min)