Foot Locker continues to face challenges, says Argus

Argus keeps a Hold rating on Foot Locker (FL), noting that while the company has "re-partnered" with its largest vendor Nike (NKE) after the latter announced last year that it would limit the availability of its products at Foot Locker stores, it continues to face challenges as it works to revitalize its business. Argus believes that Foot Locker earnings are expected to remain under pressure in the near term, cutting its FY24 view to $3.56 from $4.16.