- Benzinga
Foot Locker Shows It's Headed In The Right Direction With Its Turnaround Plan
On Thursday, Foot Locker (NYSE: FL) showed its turnaround plan is working as it posted better-than-expected comparable sales, with shares surging 15% upon the release of its May quarter report. Although the footwear retailer is still in the black, its financials are declining at a slower rate. Fiscal First Quarter Highlights For the quarter ended on May 4th, revenue contracted about 3% YoY to $1.88 billion, in line with LSEG’s estimate. Net income plunged 78% to $8 million, or 9 cents per share.
- Barrons.com
Nike Stock Is at a Crucial Moment. A Comeback Hangs in the Balance.
In theory, Nike should be killing it, as demand for athletic sneakers has been strong. But the apparel maker’s stock is down by a double-digit percentage year to date.
- Fortune
Nike’s secret department named ‘DNA’ is home to the first Air Max—but even staff on the mysterious team can’t avoid $2 billion cost-cutting scheme
The DNA collection is not open to the public and is largely reserved for researchers and designers.
