Foot Locker Inc. shares climbed after its forecast showed the retailer is overcoming Nike Inc.’s move to sell more shoes via its own channels.
“The result does not change the company’s near-term challenge,” said Cristina Fernandez, an analyst at Telsey Advisory Group, in a note to clients. “Foot Locker is in the early stages of a transitional period away from an outsized reliance on Nike toward a more diversified vendor mix. This transition creates uncertainty.”
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