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Markets rebound, Nvidia beats3 Best Cyclical and Value ETFsRally sees rotation from tech into cyclicalsThis summary was created by AI, based on 4 opinions in the last 12 months.
The reviews from different experts suggest that there was initial belief in the CEO's ability to turn around the company, but ultimately, the consensus is that it was a mistake to invest in Foot Locker due to poor financial performance and a lack of potential for a turnaround. The CEO's track record was initially enticing, but the company's struggles were too significant to overcome.
She had great faith in the new CEO whom he interviewed last March and bought a small position. The CEO came with a strong track record. He knew that turning around FL was a giant job, but it was impossible. He blew this call. FL was a flailing mall-based retailer. They reported ugly quarters in May and August, the latter reporting that sales sank 10% YOY and earnings -96% YOY. Lots of excess inventory. Awful. FL also halted their dividend, which is why many bought this stock. He was blinded by the CEO's great track record (and still believes in her), but the company had no chance for a turnaround. He should have known better.
Today it reported same-store sales of -8%, but the beat the street's expected -10%, so shares jumped 16%. The CEO transformed Ulta Beauty from a dog into a success. He expects upgrades tomorrow.
It once looked good: great CEO, fine dividend, but they cut that dividend and shares got hammered. His bad.
Foot Locker is a American stock, trading under the symbol FL-N on the New York Stock Exchange (FL). It is usually referred to as NYSE:FL or FL-N
In the last year, 4 stock analysts published opinions about FL-N. 1 analyst recommended to BUY the stock. 3 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Foot Locker.
Foot Locker was recommended as a Top Pick by on . Read the latest stock experts ratings for Foot Locker.
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
In the last year, there was no coverage of Foot Locker published on Stockchase.
On 2024-04-18, Foot Locker (FL-N) stock closed at a price of $21.61.
In late 2022, he believed too much in a CEO who couldn't turn around an awful company. The CEO had a great track record and warned the turnaround could take a long time. So, he was patient and bought a small position. A big mistake. His mistake. Hubris. A turnaround can take a very long time.