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☆ Foot Locker's financial troubles are much worse than feared, leading us to reevaluate the stock
▼ + stars: | 2023-08-23 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Shares of Foot Locker plunged more than 30% in Wednesday's trading. FL .SPX YTD mountain Foot Locker vs. S & P 500 year to date Bottom line As noted during Monday's Homestretch , we thought this would be a horrible quarter from Foot Locker. As a result, inventory remains way too high at Foot Locker, and in a worst-case scenario --management may need to tap into its credit lines. Overall same-store sales, while in line, were dragged down by Champs Sports in North America, which saw a 25.3% decline. A sign hangs above the entrance of a Foot Locker store on August 02, 2021 in Chicago, Illinois.

Persons: Locker, Monday's Homestretch, Mary Dillon, Dillon, Foot, Jim Cramer, we've, Locker's, Jim Cramer's, Jim, Scott Olson Organizations: Management, Champs Sports, Nike, Administrative, EMEA, CNBC, Getty, & $ Locations: North America, Middle East, Africa, Asia, Chicago , Illinois

☆ Foot Locker shares plunge 30% as it slashes guidance and blames 'consumer softness'
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

The dismal quarter prompted Foot Locker to lower its forecast again – just five months after introducing it. Those heavy markdowns have weighed on Foot Locker's margins, which dropped 4.6 percentage points compared with the year-ago period. Shrink, a retail industry term that refers to merchandise lost by theft, damage or other means, also weighed on profits, Foot Locker said. It didn't disclose how much shrink cut into its margins compared with promotions. But Foot Locker has been trying to reduce its reliance on Nike and balance its vendor mix.

Persons: Locker, Foot, Mary Dillon, Foot Locker Organizations: Refinitiv, Nike

☆ Foot locker is a trading vehicle not a long term hold, Gradient Investment's Mariann Montagne
▼ + stars: | 2023-08-22 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFoot locker is a trading vehicle not a long term hold, Gradient Investment's Mariann MontagneMariann Montagne, Gradient Investment's portfolio management consultant, joins 'The Exchange' to discuss Dick's Sporting Goods signalling a pull back in apparel sales, Foot Locker's attempt to control inventory shrink, and Toll Brother's doubling value since hitting its lows in 2022.

Persons: Montagne Mariann, Foot Organizations: Dick's, Goods Locations: Montagne Mariann Montagne

☆ Here's a rapid-fire update on all 35 stocks in our portfolio — including 2 rating changes
▼ + stars: | 2023-07-12 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Coterra Energy (CTRA): At roughly 10 times forward earnings, Jim said he'd classify Coterra shares as dirt cheap. Estee Lauder (EL): We're downgrading Estee Lauder to a 2 rating Wednesday, meaning we're no longer recommending investors buy the stock at current levels. But we're sticking with Estee Lauder because eventually we expect China's economy to turn around, and with it EL's stock price. The semiconductor firm, which has seen its stock price nearly triple this year, is reportedly considering taking a long-term stake in chip designer Arm Holdings.

Persons: Jim Cramer's, Jim, he's, We're, Walt Disney, Bob Iger, we're, Estee Lauder, Emerson, Locker, Mary Dillon's, Locker's financials, Eli Lilly, Vimal Kapur, Johnson, Morgan Stanley, Morgan Stanley's, he'd, Palo, Laxman Narasimhan, Bud, Stanley Black, Decker, TJX's, Wells Fargo, We've, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Investors, Bausch Health, KKR, Costco Wholesale, Costco, Coterra Energy, ESPN, The, Disney, Emerson, National Instruments, Rockwell Automation, Ford, United Auto Workers, GE Healthcare, Halliburton, HAL, Honeywell International, Honeywell, Johnson, Linde, LIN, Novo Nordisk, Meta, Microsoft, Activision Blizzard, Nvidia, Arm Holdings, Palo Alto Networks, Palo Alto, Natural Resources, Procter & Gamble, Constellation Brands, TJX, Wynn Resorts, WYNN, Jim Cramer's Charitable Locations: India, Israel, California, U.S, Corona, Wells, Las Vegas , Boston, Macao

The S & P 500 rose 8.3% in the second quarter to extended its 2023 advance to 15.9%. Here's a closer look at the Club's best and worst performers in the first half of 2023, starting with the four winningest stocks. West Texas Intermediate crude ended the second quarter under $71 per barrel, about $10 below where it started the year. Humana (HUM) dropped 12.7% in the first half of 2023, rounding out the bottom-four Club stocks between January and June. The common denominator among the worst-performing Club stocks is a bit less obvious than with the winners.

Persons: It's, Dow, Here's, Mark Zuckerberg, Palo, Lisa Su, —, Eli Lilly, Locker, Foot Locker's, Estee Lauder, Estee, Halliburton haven't, encouragingly, Halliburton, Jim Cramer's, Jim Cramer, Jim, Jen, Hsun Huang, Huang, Andrej Sokolow Organizations: Nasdaq, Dow Jones, Nvidia, FactSet, Meta, Investors, Facebook, Networks, Palo Alto Networks, Alto, AMD, Devices, Palo, would've, The, HAL, Halliburton, West Texas, Coterra, Humana, Disney, DIS, CNBC, Consumer, Audi, Getty Locations: China, Meta, Palo, Palo Alto, Las Vegas, USA

☆ How our retail stocks are battling a rise in theft — and why they are set up to win
▼ + stars: | 2023-06-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +8 min

Many retailers are grappling with a rise in theft at their stores that is cutting into profits. Most losses were attributed to organized retail crime, employee theft and process-control failures. While theft is an industry-wide phenomenon, the shrink headwind appeared to have more of a material impact among discount retailers. Off-price retailer TJX Companies (TJX) also cited shrink as a headwind to gross margins in its latest results . At its stores, TJX has also made efforts to better secure expensive merchandise by putting it behind locked cases and using more innovative tagging.

Persons: —, hasn't, Jim Cramer's, Locker, Dana Telsey, TJX, Tom Nikic, Foot Locker, Nikic, Wedbush, Jim, Mary Dillon's, Rich Galanti, We've, Telsey, they're, Jim Cramer, Victor J Organizations: National Retail Federation, UBS, TJX Companies, Costco, Telsey Advisory, CNBC, TAG, Wedbush, Management, TJ Maxx, Blue, Bloomberg, Getty Locations: FL, New York, U.S

☆ Here’s our Monthly Meeting rapid-fire update on all 35 stocks in the Club’s portfolio
▼ + stars: | 2023-06-14 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +14 min

Here's a rapid-fire update on all 35 stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. In fact, he named Disney as the best Club stock to gift to a young grandchild. CEO Jim Farley's focus on only making profitable cars and trucks will be put to the test in the current quarter. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer's, Jim, Apple's, there's, Bausch, Estee Lauder, Fabrizio Freda, Berenberg, he's, Jim Farley's, Ford, Locker, Foot Locker's, Mary Dillon's, Patience, we're, Vimal Kapur, Johnson, J, Eli Lilly, Eli Lilly's, Mark Zuckerberg, Morgan Stanley, We're, James Gorman, enabler, aren't, Scott Sheffield, Coterra, PXD, Jim said, Stanley Black, Decker, TJ Maxx, Wells Fargo, Charlie Scharf's, Scharf, Wells, Wynn, Jim Cramer, Jim Cramer Rob Kim Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple, Devices, AMD, Nvidia, Amazon Web Services, Bausch Health, Caterpillar, Costco Wholesale, Costco, Humana, Coterra Energy, Disney, Emerson, Emerson Electric, National Instruments, Ford, Management, GE Healthcare, Halliburton, HAL, Honeywell, Johnson, Linde, LIN, Meta, underwriters, Cava, Microsoft, Palo Alto Networks, Natural Resources, Procter & Gamble, Constellation Brands, Modelo Especial, U.S, TJX, Marshalls, Home Goods, Wynn Resorts, WYNN, Starbucks, Las, Jim Cramer's Charitable Locations: Asia, China, California, Mounjaro, Palo, Wells, Las Vegas, Macao

☆ Here's our first-quarter earnings report card for every stock in the portfolio
▼ + stars: | 2023-06-02 | by ( Zev Fima | ) www.cnbc.com time to read: +17 min

As a result, about 78% of S & P 500 companies reported better-than-expected earnings results, according to FactSet. Though sales came up short of expectations, earnings, operating margin, and return on capital all notched new record highs in a tough economy. We also saw strong sales of key drug Mounjaro along with positive updates for its potential as a weight loss medication. GE Healthcare (GEHC) reported solid results with its first-quarter earnings release as sales and earnings outpaced expectations. Despite the top-line miss, TJX Companies (TJX) delivered better-than-expected earnings as management demonstrated the ability to diligently control expenses.

Persons: Emerson, Eli Lilly, Strong, Humana, Johnson, Morgan Stanley, Wells Fargo, Wells, Estee Lauder, Locker, Jim Cramer's, Jim Cramer, Jim, Hsun Huang, Patrick T Organizations: Club, Halliburton, HAL, Linde, LIN, Microsoft, Nvidia, Palo Alto Networks, billings, Procter & Gamble, Devices, Caterpillar, Costco, Coterra Energy, Management, GE Healthcare, Honeywell, Johnson, Wynn Resorts, WYNN, Valley Bank . Disney, Natural Resources, Constellation Brands, TJX Companies, Bausch Health, Nike, Jim Cramer's Charitable, CNBC, Nvidia Corp, Mobile, Fallon, Bloomberg, Getty Locations: Washington, North America, United States, Wells, Macau, Asia, Los Angeles , California

☆ Stick with this mega-cap tech stock that still has room for outsized growth
▼ + stars: | 2023-05-31 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Big, Dow, Bernstein, Mary Dillon, Foot, Dillion, Jim Cramer's, Jim Organizations: CNBC, Amazon New, Big, Nasdaq, Dow, Devices, Nvidia, Meta, Wednesday, Club, Services, New Locations: AMZN, FL

☆ Nike to trade lower following Foot Locker's dismal results, Citi says
▼ + stars: | 2023-05-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Citigroup analysts are watching Nike stock for downside risk after disappointing quarterly results from retailer Foot Locker . The firm Monday reiterated a neutral rating on Nike stock, with a price target of $125 per share. Nike stock is down nearly 2% from the start of the year, and shares fell another 1.5% in premarket trading Monday. Citi also downgraded Foot Locker to neutral on Monday, citing the "economic sensitivity of [Foot Locker's] customer base" underpinned by the company's weak results on Friday . FL YTD mountain Foot Locker stock.

☆ Here are Monday's biggest analyst calls: Apple, Nvidia, Amazon, DraftKings, Nike, Snowflake & more
▼ + stars: | 2023-05-22 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Piper Sandler names Microsoft, Snowflake and Oracle top AI picks Piper said that Microsoft, Snowflake and Oracle are the next "all-stars" in AI. Citi adds a negative catalyst watch on Nike Citi said Foot Locker's negative earnings report last week does not portend well for Nike. Citi downgrades Foot Locker to neutral from buy Citi downgraded Foot Locker after its disappointing earnings report last week and says shares are not fully de-risked. Deutsche Bank reiterates Snowflake as buy Deutsche says it's "constructive" heading into Snowflake earnings on Wednesday. Bank of America reiterates Alphabet as buy Bank of America says the internet search giant is "well positioned for mobile."

☆ Stocks making the biggest moves midday: PacWest, DraftKings, Pfizer, Foot Locker and more
▼ + stars: | 2023-05-22 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

Check out the companies making headlines in midday trading. DraftKings — Shares of the sports gambling platform soared 8% in midday trading. Earlier on Monday, UBS upgraded the stock to buy from neutral on strong growth in new states. Zions Bancorporation — The bank stock jumped 6.7% after Hovde Group initiated coverage of Zions at outperform, with a $40 price target, according to FactSet. Norfolk Southern — Norfolk Southern gained less than 1% during midday trading.

☆ Stocks making the biggest premarket moves: Apple, Meta, Micron, PacWest and more
▼ + stars: | 2023-05-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Check out the companies making the biggest moves in premarket trading:Apple — Shares of the iPhone maker fell about 1% premarket after Loop Capital downgraded Apple's stock to hold from buy. Nike , Foot Locker — Shares of Nike and Foot Locker declined 1.5% and 2.4%, respectively, in premarket trading. Foot Locker missed on the top and bottom lines in its first fiscal quarter, and lowered its guidance. UBS upgraded shares to a buy from neutral rating, saying that expansion into new markets should fuel growth. Norfolk Southern , CSX — Shares of the railroads added 1.8% and 1.5%, respectively, in premarket trading.

☆ Wall St slips on debt ceiling uncertainty
▼ + stars: | 2023-05-20 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. For the week, the Dow gained 0.38%, the S&P 500 climbed 1.65% and the Nasdaq advanced 3.04%. The S&P 500 and Nasdaq notched their biggest weekly percentage gains since the final week of March. [1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 79 new highs and 87 new lows.

☆ Foot Locker slumps as weak demand, heavy discounts drive annual outlook cut
▼ + stars: | 2023-05-19 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Foot Locker Inc's (FL.N) shares closed down 27% on Friday as the footwear retailer cut its annual sales and profit forecasts amid a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. The company also missed analysts' estimates for first-quarter results and named former Kohl's Corp (KSS.N) executive Mike Baughn as its new finance chief, effective June 12. Foot Locker doubled down on discounts to drive demand, which coupled with an increase in theft-related inventory losses led to a 400-basis point hit to the company's quarterly gross margins. Foot Locker now expects full-year comparable sales to fall between 7.5% and 9.0%. The company also forecast annual adjusted per-share earnings between $2.00 and $2.25, compared with its previous outlook of $3.35 to $3.65.

☆ Wall St retreats on debt ceiling jitters
▼ + stars: | 2023-05-19 | by ( Chuck Mikolajczak | ) www.reuters.com time to read: +4 min

[1/2] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 14, 2023. Stocks had rallied over the past two sessions on growing confidence a deal to raise the $31.4 trillion debt limit could be reached in coming days, with the benchmark S&P 500 (.SPX) climbing more than 2%. The S&P 500 and Nasdaq were poised for their biggest weekly percentage gains since the final week of March. The warning weighed on Dow component Nike Inc (NKE.N), which lost 4.11%, while Under Armour Inc (UAA.N) fell 4.53%. The S&P 500 posted 28 new 52-week highs and three new lows; the Nasdaq Composite recorded 72 new highs and 69 new lows.

☆ Foot Locker slumps as weak demand, heavy discounts drive annual forecast cut
▼ + stars: | 2023-05-19 | by ( ) www.reuters.com time to read: +2 min

May 19 (Reuters) - Shares of Foot Locker Inc (FL.N) plunged 25% premarket on Friday, after the footwear retailer cut its annual sales and profit forecasts reeling under a sharp drop in demand and a hit from heavy discounts aimed at clearing excess inventories. This dented sales at a wide range of companies, including big-box retailer Target Corp (TGT.N) and home improvement chain Home Depot (HD.N). Foot Locker doubled down on promotions and markdowns to drive demand at its stores, which, coupled with a rise in theft-related inventory "shrink", dealt a 400-basis-point hit to its quarterly gross margin. It also expects adjusted earnings of between $2.00 to $2.25 per share, much lower than the $3.35-$3.65 range estimated previously. Excluding items, Foot Locker earned 70 cents per share, which was also below estimates of 81 cents per share.

☆ We're adding to this oil stock, plus an update on one of our retail names
▼ + stars: | 2023-05-19 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Following Friday's trade, Jim Cramer's Charitable Trust will own 275 shares of PXD, increasing its weight to 2.08% from 1.89%. Pioneer Natural Resources buy We're adding to our Pioneer position Friday morning because we think oil can make a stand here in the low $70s. PXD YTD mountain Pioneer Natural Resources (PXD) YTD performance Pioneer is our "oily" energy play with some of the lowest all-in costs and highest quality of assets in the Permian basin. Foot Locker update We also want to provide an update on Foot Locker (FL). FL YTD mountain Foot Locker (FL) YTD performance So what to do now?

☆ Cramer didn't expect Foot Locker's results to be this bad — but turnarounds take time
▼ + stars: | 2023-05-19 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. While we didn't expect the results to be this bad, we certainly didn't have high expectations for the quarter. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Discretionary retail is already in a recession and likely to get worse, says UBS' Lasser
▼ + stars: | 2023-05-19 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDiscretionary retail is already in a recession and likely to get worse, says UBS' LasserMichael Lasser, UBS Securities, joins 'Squawk on the Street' to discuss if Foot Locker's is a good lens into retail, the notion that certain companies will benefit from trade-downs and the shrinkage issue in retail.

☆ Here's why Jim Cramer is sticking with Foot Locker despite terrible quarter and big stock drop
▼ + stars: | 2023-05-19 | by ( Zev Fima | ) www.cnbc.com time to read: +5 min

Club holding Foot Locker (FL) reported disappointing fiscal 2023 first-quarter results and guidance before the opening bell Friday. Foot Locker, which announced the Eastbay closure in December, will concentrate on its namesake and Champs stores. Unfortunately, the rebound from these headwinds has also proven weaker than management previously expected. When starting a position in Foot Locker in March, we knew the company would not be fixed quickly. Shoppers and pedestrians pass in front of a Foot Locker store on the Third Street Promenade in Santa Monica, California.

☆ Here's what to expect when Club apparel retailers TJX and Foot Locker report this week
▼ + stars: | 2023-05-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +7 min

Apparel retailers TJX Companies (TJX) and Foot Locker (FL) are set to deliver quarterly results this week, as consumers continue to be squeezed by a slowing economy and still-persistent inflation. Sneaker retailer Foot Locker reports Friday before the opening bell, with Refinitiv estimates showing revenue should have fallen by 8.3 % annually, to $1.90 billion, with EPS falling 49 % to, 81 cents. Foot Locker is going through a transitionary period as it reinvents itself, so our expectations are low for the first quarter. "Don't expect anything from Foot Locker," Jim Cramer said Monday. Foot Locker Inc. signage is displayed in the window of a store in New York, U.S. Michael Nagle | Bloomberg | Getty Images

We're buying 300 shares of Foot Locker (FL) at roughly $38.69 each. We're using the recent weakness in Foot Locker to add to our small position and improve our average cost basis. Sure, Foot Locker's stores are a great place to pick up the latest Steph Curry sneaker from Under Armour. A year later, she came back for the Foot Locker job, which we think speaks volumes about her commitment to overhauling the sneaker chain. As we wait for this turnaround to play out, Foot Locker offers a 4.11% annual dividend yield, which adequately compensates us for our patience.

We're buying 350 shares of Foot Locker (FL), at roughly $40.43 apiece. Following Monday's trade, Jim Cramer's Charitable Trust will own 700 shares of FL, increasing its weighting in the portfolio to 1.06% from 0.53%. There hasn't been a lot of news around Foot Locker dating back to our initial buy in March , with the exception of one key data point. In late March, CEO Mary Dillon disclosed she purchased roughly $500,000 worth of Foot Locker stock , at $39.74 a share — bolstering our confidence in the company's turnaround strategy. Dillon joined Foot Locker last year after a very successful run as CEO of Ulta Beauty (ULTA).

☆ Investing Club mailbag: When do we expect our stocks to hit their price targets?
▼ + stars: | 2023-03-30 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

How far out does a Club stock price target project: three months out, six months out, or one year out? Our price targets are based (usually but not always) on earnings estimates for the next full fiscal year. They also update their price targets based on these updated estimates. As a result, sometimes price targets are moving targets versus planting a flag in the ground about one certain price. (For a look at how to arrive at our price targets in the first place, we've written about that in a previous commentary .)

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