Note 2 - Revenue

9 Months Ended

Nov. 02, 2024

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

2. Revenue

The table below presents sales disaggregated by sales channel, as well as licensing revenue earned from our various licensed arrangements. Sales are attributable to the channel in which the sales transaction is initiated.

	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		October 28,		November 2,		October 28,
($ in millions)	2024		2023		2024		2023
Sales by Channel
Stores	$	1,614	$	1,649	$	4,762	$	4,834
Direct-to-customers		344		337		966		940
Total sales		1,958		1,986		5,728		5,774
Licensing revenue		3		3		12		10
Total revenue	$	1,961	$	1,989	$	5,740	$	5,784

Revenue is attributed to the country in which the transaction is fulfilled, and revenue by geographic area is presented in the following table.

	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		October 28,		November 2,		October 28,
($ in millions)	2024		2023		2024		2023
Revenue by Geography
United States	$	1,291	$	1,343	$	3,788	$	3,807
International		670		646		1,952		1,977
Total revenue	$	1,961	$	1,989	$	5,740	$	5,784

Sales by banner and operating segment are presented in the following table.

	Thirteen weeks ended				Thirty-nine weeks ended
	November 2,		October 28,		November 2,		October 28,
($ in millions)	2024		2023		2024		2023
Foot Locker	$	769	$	796	$	2,282	$	2,244
Champs Sports		286		311		821		932
Kids Foot Locker		183		189		520		502
WSS		167		163		482		458
Other		—		1		1		1
North America		1,405		1,460		4,106		4,137
Foot Locker (1)		445		407		1,284		1,202
Sidestep		—		—		—		26
EMEA		445		407		1,284		1,228
Foot Locker		77		81		236		281
atmos		31		38		102		128
Asia Pacific		108		119		338		409
Total sales	$	1,958	$	1,986	$	5,728	$	5,774

⁽¹⁾ Includes sales from 8 and 14 Kids Foot Locker stores operating in Europe for  November 2, 2024 and October 28, 2023, respectively.

Contract Liabilities

We sell gift cards which do not have expiration dates. Revenue from gift card sales is recorded when the gift cards are redeemed by customers. Breakage income is recognized as revenue in proportion to the pattern of rights exercised by the customer. The table below presents the activity of our gift card liability balance.

	November 2,			October 28,
($ in millions)	2024			2023
Gift card liability at beginning of year	$	29		$	36
Redemptions		(127	)		(225	)
Breakage recognized in sales		(3	)		(10	)
Activations		124			215
Foreign currency fluctuations		—			(1	)
Gift card liability	$	23		$	15

We elected not to disclose the information about remaining performance obligations since the amount of gift cards redeemed after 12 months is not significant.