Foot Locker’s Fiscal 4Q17 Margin Takes a Hit as Costs Escalate
In fiscal 4Q17, Foot Locker (FL) reported a contraction of 230 basis points (or bps) in its gross margin to 31.4% over 14 weeks. Foot Locker’s SG&A (selling, general, and administrative) expenses rose 7.1% to $423 million in fiscal 4Q17. As a result, its operating margin came in at 3.4% compared to the 13.2% it reported in fiscal 4Q16.