Foot Locker Inc. stock fell by 3.5% in premarket trade Monday, after the sporting goods retailer's weaker than expected guidance for fiscal 2023 offset a stronger than expected fourth quarter. Earnings per share came to 97 cents, well ahead of the 51 cent consensus, according to the adjusted per-share earnings. Sales fell by 0.3% to $2.334 billion from $2.341 billion a year ago, ahead of the $2.146 billion FactSet consensus. Same-store sales increased by 4.2%, while FactSet expected a decline of 6.7%. Increased traffic and increased access to fresh inventory boosted sales across brands and regions, as well as increased traffic and improved access to fresh inventory. The company said it now expects same-store sales to fall 3.5% to 5.5% in fiscal 2023 and for adjusted EPS to range from $3.35 to $3.65. The FactSet consensus is for same-store sales to fall 1.5% and EPS of $4.11. The company is planning to overhaul its Asia operations, closing stores and e-commerce in Hong Kong and Macau. It plans to convert its current owned and operated stores and ecommerce in Singapore and Malaysia to a license model, to continue to operate its stores in South Korea and to pursue growth in Asia via license partners. The stock has gained 31% in the last 12 months, while the S&P 500 SPX has fallen 12%.