Foot Locker, Inc. (FL - Free Report) , the operator of athletic shoes and apparel retailer, came out with second-quarter fiscal 2016 results, wherein earnings of 94 cents a share beat the Zacks Consensus Estimate of 91 cents, and jumped 12% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has been stable over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 7.8%.
Revenues: Foot Locker generated total revenue of $1,780 million that increased 5% year over year, and came above the Zacks Consensus Estimate of $1,764 million. Comparable-store sales jumped 4.7% during the quarter.
Key Events: During the quarter under review, Foot Locker opened 23 new outlets, remodeled or relocated 64 outlets, and shuttered 18 outlets. As of Jul 30, 2016, the company operated 3,401 outlets. During the quarter, the company repurchased 3.35 million shares of worth $188 million.
Zacks Rank: Currently, Foot Locker carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
Stock Movement: Foot Locker’s shares are up nearly 4.5% during pre-market trading hours following the earnings release.
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Foot Locker, Inc. (FL - Free Report) , the operator of athletic shoes and apparel retailer, came out with second-quarter fiscal 2016 results, wherein earnings of 94 cents a share beat the Zacks Consensus Estimate of 91 cents, and jumped 12% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2016 has been stable over the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 7.8%.
Revenues: Foot Locker generated total revenue of $1,780 million that increased 5% year over year, and came above the Zacks Consensus Estimate of $1,764 million. Comparable-store sales jumped 4.7% during the quarter.
Key Events: During the quarter under review, Foot Locker opened 23 new outlets, remodeled or relocated 64 outlets, and shuttered 18 outlets. As of Jul 30, 2016, the company operated 3,401 outlets. During the quarter, the company repurchased 3.35 million shares of worth $188 million.
Zacks Rank: Currently, Foot Locker carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement.
Stock Movement: Foot Locker’s shares are up nearly 4.5% during pre-market trading hours following the earnings release.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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