(AOF) – The distribution company specializing in sports Foot Locker is expected to decline sharply due to disappointing prospects. In the fourth quarter, the group suffered a net loss of $389 million, or -$4.13 per share, compared to a profit of $19, or 20 cents per share, a year earlier. Adjusted earnings per share came in at 38 cents, beating expectations by 6 cents. Revenue fell 2% to $2.38 billion while Wall Street was targeting $2.28 billion. They fell by 0.7% like-for-like.
This year, Foot Locker is targeting adjusted earnings per share of between $1.50 and $1.70, below the consensus of $1.95. Sales are expected to fall by 1% at worst and increase by 1% at best. On a comparable basis, they are expected to increase by 1% to 3%.
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