Foot Locker, Inc. (NYSE:FL) Files An 8-K Results of Operations and Financial ConditionItem 2.02.
On November 17, 2017, Foot Locker, Inc. issued a press release announcing its financial and operating results for the third quarter of 2017. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release includes a non-GAAP financial measure for third quarter 2017 net income excluding an $8 million after-tax charge related to a reduction and reorganization of divisional and corporate staff. The press release also includes a non-GAAP financial measure for third quarter 2016 net income excluding a $5 million after-tax impairment charge associated with the Runners Point and Sidestep banners and a $10 million reduction in tax expense associated with a scheduled intellectual property reassessment in Europe.The Company believes these non-GAAP financial results provide useful information to investors because they allow for a more direct comparison of the Company’s operating performance for the third quarter of 2017 to the Company’s performance in the comparable prior-year period. The non-GAAP financial results are provided in addition to, and not as an alternative to, the Company’s reported results prepared in accordance with GAAP. A reconciliation to GAAP is provided in the Condensed Consolidated Statements of Operations.
In accordance with General Instruction B.2. of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
FOOT LOCKER, INC. ExhibitEX-99.1 2 c89751_ex99-1.htm Exhibit 99.1 NEWS RELEASE Contact: John A. Maurer Vice President,…To view the full exhibit click here
About Foot Locker, Inc. (NYSE:FL)
Foot Locker, Inc. is a retailer of shoes and apparel. The Company operates through two segments: Athletic Stores and Direct-to-Customers. The Company’s Athletic Stores segment is an athletic footwear and apparel retailer whose formats include Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, SIX:02, Runners Point Group, including Runners Point and Sidestep. The Company’s Direct-to-Customers segment includes Footlocker.com, Inc. and other affiliates, including Eastbay, Inc., and its international e-commerce businesses, which sell to customers through their Internet and mobile sites and catalogs. The Direct-to-Customers segment operates the Websites for eastbay.com, final-score.com, eastbayteamsales.com, and sp24.com. It operates over 3,383 primarily mall-based stores in the United States, Canada, Europe, Australia and New Zealand. The Company operates over 60 franchised stores that are located in the Middle East, Germany and Switzerland, and Republic of Korea.
