--- schema_version: "secwatch.filing_event.v1" accession: "0001437749-23-015183" form_type: "8-K" ticker: null cik: "0000850209" company_name: "FOOT LOCKER, INC." filed_at: "2023-05-19T23:59:59+00:00" generated_at: "2026-06-14T20:27:31.310249+00:00" event_type: "earnings" sentiment: "negative" materiality_score: 0.85 calibrated_materiality_score: 0.85 confidence: "high" source: SEC EDGAR --- # Foot Locker Q1 EPS misses; cuts FY 2023 guidance; names new CFO ## Summary - Q1 sales $1,927M (-11.4% YoY); comps -9.1%; GAAP EPS $0.38, non-GAAP $0.70. - FY 2023 non-GAAP EPS guidance slashed to $2.00-$2.25 from $3.35-$3.65. - Full-year comparable sales now expected down 7.5-9.0% vs prior down 3.5-5.5%. - Mike Baughn appointed EVP/CFO effective June 12, 2023; base salary $650K. - Quarterly dividend maintained at $0.40/share payable July 28, 2023. ## SEC filing metadata - accession: 0001437749-23-015183 - form_type: 8-K - cik: 0000850209 - company_name: FOOT LOCKER, INC. - filed_at: 2023-05-19T23:59:59+00:00 - event_type: earnings - sentiment: negative - materiality_score: 0.85 - calibrated_materiality_score: 0.85 - confidence: high - sec_items: 2.02, 5.02, 5.07, 7.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/floc20230327_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001437749-23-015183 - JSON: https://secwatch.observer/filing/0001437749-23-015183.json - Plain text: https://secwatch.observer/filing/0001437749-23-015183.txt ## Key facts - Earnings Releases FOOT LOCKER, INC. reported first quarter 2023 results: revenue 1,927 million, net income 36 million, EPS 0.38 per share. Guidance lowered. - Period: first quarter 2023 - Revenue: 1,927 million - Net income: 36 million - EPS: 0.38 per share - Guidance: lowered - Result: reported results source text: including lower income tax refunds in the United States, as well as the changing vendor mix and our repositioning of Champs Sports. ● Total sales decreased by 11.4%, to $1,927 million, compared with sales of $2,175 million in the first quarter of 2022. Excluding the effect of foreign exchange rate fluctuations, total sales for the first quarter decreased by evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Executive change Robert Higginbotham changed role as interim Chief Financial Officer at FOOT LOCKER, INC.. - Action: ceased to serve - Role: interim Chief Financial Officer source text: Robert Higginbotham will cease to serve as interim Chief Financial Officer, effective on June 11, 2023, and continue to serve as Senior Vice President, Investor Relations and Financial Planning & Analysis, reporting to Mr. Baughn. evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Executive change Michael Baughn was appointed as Executive Vice President and Chief Financial Officer at FOOT LOCKER, INC.. - Action: appointed - Role: Executive Vice President and Chief Financial Officer source text: Michael Baughn, age 42, has been appointed Executive Vice President and Chief Financial Officer of the Company, effective June 12, 2023. evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Shareholder Votes FOOT LOCKER, INC. shareholders approved Election of ten nominees to the Board of Directors, each for a one-year term. - Proposal: director election - Outcome: passed source text: Proposal 1. With respect to the proposal to elect ten nominees to the Board of Directors (the “Board”), each for a one-year term expiring at the annual meeting of shareholders to be held in 2024, the votes were cast for the proposal as set forth below: Name Votes For Votes Against Abstentions Broker Non-Votes Mary N. Dillon 67,034,124 387,488 76,453 5,199,586 Virginia C. Drosos 66,953,845 462,657 81,563 5,199,586 Alan D. Feldman 65,400,418 2,012,709 84,938 5,199,586 Guillermo G. Marmol 65,098,489 2,312,121 87,455 5,199,586 Darlene Nicosia 66,374,764 1,040,915 82,386 5,199,586 Steven Oakland 67,114,249 301,288 82,528 5,199,586 Ulice Payne, Jr. 66,778,937 637,452 81,676 5,199,586 Kimberly Underhill 66,604,182 811,104 82,779 5,199,586 Tristan Walker 67,091,719 322,138 84,208 5,199,586 Dona D. Young 64,950,700 2,465,909 81,456 5,199,586 evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Shareholder Votes FOOT LOCKER, INC. shareholders approved Advisory approval of the Company's named executive officers' compensation. - Proposal: say on pay - Outcome: passed source text: Proposal 2. With respect to the proposal to approve, on an advisory basis, the Company’s named executive officers’ (“NEOs”) compensation, the votes were cast for the proposal as set forth below: Votes For Votes Against Abstentions Broker Non-Votes 65,246,260 2,114,695 137,110 5,199,586 evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Shareholder Votes FOOT LOCKER, INC. shareholders approved Ratification of KPMG LLP as the Company's independent registered public accounting firm for fiscal 2023. - Proposal: auditor ratification - Outcome: passed source text: Proposal 5. With respect to the proposal to ratify the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the 2023 fiscal year, the votes were cast for the proposal as set forth below: Votes For Votes Against Abstentions 71,212,299 1,410,718 74,634 evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Shareholder Votes FOOT LOCKER, INC. shareholders approved Approval of the Plan (equity compensation plan). - Proposal: equity plan - Outcome: passed source text: Proposal 3. With respect to the proposal to approve the Plan, the votes were cast for the proposal as set forth below: Votes For Votes Against Abstentions Broker Non-Votes 57,260,191 10,122,202 115,672 5,199,586 evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm - Shareholder Votes FOOT LOCKER, INC. shareholders approved Approval of the ESPP (employee stock purchase plan). - Proposal: equity plan - Outcome: passed source text: Proposal 4. With respect to the proposal to approve ESPP, the votes were cast for the proposal as set forth below: Votes For Votes Against Abstentions Broker Non-Votes 66,991,515 419,762 86,788 5,199,586 evidence_url: https://www.sec.gov/Archives/edgar/data/850209/000143774923015183/0001437749-23-015183-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.