Foot Locker Earnings: Here’s Why Investors Like These Results
Foot Locker, Inc. (NYSE:FL) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.38%.
Foot Locker, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 21.05% to $0.46 in the quarter versus EPS of $0.38 in the year-earlier quarter.
Revenue: Rose 6.36% to $1.45 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Foot Locker, Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company missed the mean analyst estimate of $0.47. It beat the average revenue estimate of $1.45 billion.
Quoting Management: “Sales in the second quarter were more challenging than we planned for, especially in the United States. Despite this headwind, we produced second quarter ongoing profit and sales results that were our best ever as Foot Locker, Inc., demonstrating that the execution of our strategic priorities continues to deliver solid financial and operational results for our shareholders and other stakeholders” said Ken C. Hicks, Chairman of the Board and Chief Executive Officer. “We remain confident that we can achieve a mid-single digit comparable sales gain and a double digit percentage profit increase for fiscal 2013, as we build momentum in our operational and financial performance now and over the long term.”
Key Stats (on next page)…