**Foot Locker, Inc. Reports a 10.3% Decline in First-Half Sales**
* Revenue drops to $3.8 billion from $4.2 billion in H1 2022
* Comparable sales decrease by 10.9%
* Net income falls by 56.8% to $184 million
* Company cites macroeconomic headwinds and shifts in consumer spending
**New York, August 18, 2023** – Foot Locker, Inc. (NYSE: FL) today announced its financial results for the first half of 2023, reporting a 10.3% decline in sales compared to the same period last year.
**Key Financial Highlights:**
* Total revenue decreased to $3.8 billion from $4.2 billion in the first half of 2022.
* Comparable sales, which exclude the impact of new store openings and closures, declined by 10.9%.
* Net income fell by 56.8% to $184 million, down from $425 million in H1 2022.
* Diluted earnings per share (EPS) decreased to $1.33 from $3.08 in the prior-year period.
**Challenges and Outlook:**
Foot Locker attributed the decline in sales to ongoing macroeconomic headwinds, including inflation, supply chain disruptions, and shifts in consumer spending patterns.
Richard Johnson, Chairman and CEO of Foot Locker, Inc., stated, .
