(Boursier.com) — Foot Locker soared by nearly 20% before the stock market on Wall Street this Friday, while the distribution group of sports shoes and accessories has just published its quarterly accounts, without relief, but also to report a change of general manager . Thus, Richard A. Johnson will step down as CEO. Mary N. Dillon is named chief executive, starting September 1. Dona D. Young will become non-executive chairman effective February 1, 2023. Mary Dillon was executive chairman and chief executive officer of Ulta Beauty. She will also join Foot Locker’s board of directors in September. Johnson will remain executive chairman of the board until the end of January to ensure the transition. He will then be an advisor to the new CEO until April.
For the second fiscal quarter, the New York group posted total sales down 9.2% to 2.065 billion dollars, with currency fluctuations (-6.1% excluding currency effects). Like-for-like sales fell by 10.3%. Net income was 99 cents per share, or $1.1 on an adjusted basis. The group says it is well positioned for the back-to-school season, with quality products, and expects to reach… the bottom end of its initial earnings guidance. Annual sales in 2022 are now expected to decline by 6 to 7%, with a drop of 8 to 9% like-for-like. Adjusted earnings per share are expected to be between $4.25 and $4.45.
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