We're exiting our position in Foot Locker , selling 750 shares at roughly $25.64 each. Following Thursday's trade, Jim Cramer 's Charitable Trust will no longer own a position in FL. In addition to making room for our new name in the Club portfolio, Nextracker , we have concerns about the potential for more material upside in the near term for Foot Locker. Here's why. Alongside fiscal 2023 fourth-quarter earnings in March, management pushed out its 8.
Remember, we bought Foot Locker originally as a turnaround being engineered by a CEO Mary Dillion with a record of doing the same at Ulta Beauty when she was the boss there. This Foot Locker turnaround is going to take time and won't be linear. There's a possibility of us revisiting the stock sometime down the road when we feel more confident that the business is on a stronger footing.
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