Foot Locker’s stonks are back up! After a rough couple of quarters, the retailer posted third-quarter profits that exceeded expectations.
Revenues have risen 3.9 per cent to $1.93 billion, and same-store sales bumped up 5.7 per cent, a margin more than analysts had predicted. Reportedly, CEO and Chairman, Dick Johnson, has said Foot Locker has a new five-year strategy that focusses on ‘elevating customer experience, investing in long-term growth, driving productivity, and leveraging the power of its pool’.
If that’s all over your head, the take-home here is that it isn’t over for retail.