Foot Locker Inc. has released preliminary financial results for the first quarter ending May 3, 2025, revealing a decrease in comparable sales by 2.6% from the prior-year period, with a specific decline of 0.5% in North America. The company expects to report a net loss of $363 million, contrasting with a net income of $8 million in the same period last year. On a non-GAAP basis, Foot Locker anticipates a net loss of $6 million, compared to a net income of $21 million in the previous year. Foot Locker has announced an agreement to be acquired by DICK'S Sporting Goods in a merger valued at approximately $2.4 billion in equity and $2.5 billion in enterprise value. The transaction, approved by both companies' boards, gives Foot Locker shareholders the option to receive either $24.00 in cash or 0.1168 shares of DICK'S common stock for each Foot Locker share. The company has decided not to hold its previously planned conference call to discuss first quarter results and will not update its financial guidance due to the pending transaction with DICK'S. Full financial results for the first quarter are scheduled for release on May 29, 2025.