Price Cuts Help Foot Locker Return to Growth
Investors had low expectations heading into the second-quarter earnings report for Foot Locker (NYSE: FL). The retailer had already announced that it returned to sales growth in the period, but its profit outlook seemed weak. The footwear and sports apparel industry might be looking at a long period of pricing challenges that push margins lower, as in fiscal 2018.
Foot Locker's Q2 report didn't settle that key financial worry for shareholders. But the announcement contained some encouraging signs that the business is mending in the wake of COVID-19 shutdowns.
Let's take a closer look.
Source Fool.com
