Foot Locker's Q1 Earnings Exceed Expectations, Stock Surges

The retailer's 'Lace Up' turnaround strategy shows promising results as comparable sales outperform forecasts.

Foot Locker's Q1 adjusted earnings per share were $0.22, nearly double analysts' predictions.
Comparable sales declined by 1.8%, better than the expected 3.1% drop.
Revenue for the quarter was $1.88 billion, aligning with projections.
The company reaffirmed its full-year guidance, anticipating a 1% sales decline to a 1% increase.
CEO Mary Dillon highlighted digital transformation and enhanced brand partnerships as key growth drivers.