Foot Locker Earnings: Here’s Why Shares are Down Now
Foot Locker, Inc. (NYSE:FL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 2.47%.
Foot Locker, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 9.64% to $0.91 in the quarter versus EPS of $0.83 in the year-earlier quarter.
Revenue: Rose 3.8% to $1.64 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Foot Locker, Inc. reported adjusted EPS income of $0.91 per share. By that measure, the company beat the mean analyst estimate of $0.88. It beat the average revenue estimate of $1.63 billion.
Quoting Management: “I am pleased to report that the thoughtful implementation of our strategic priorities continues to deliver record financial and operational results for our shareholders and other stakeholders” said Ken C. Hicks, Chairman of the Board and Chief Executive Officer. “It takes a true team effort and excellent performance to generate the kind of momentum that enabled us to post the best quarterly profit results in our history as an athletic company — for the second year in a row. I want to thank all of our associates for their consistent focus on, and strong execution of, our key initiatives, which led to this achievement.”
Key Stats (on next page)…