Foot Locker, Inc. ( FL Quick Quote FL - Free Report) is likely to register top- and bottom-line declines when it reports third-quarter fiscal 2020 numbers on Nov 20, before the opening bell. The Zacks Consensus Estimate for revenues is pegged at $1.9 billion, which indicates a decline of nearly 1% from the year-ago quarter’s figures. The Zacks Consensus Estimate for quarterly earnings went up by 3 cents in the past seven days and is currently pegged at 60 cents per share. The consensus mark suggests a decline of 46.9% from earnings of $1.13 reported in the year-ago quarter. In the last reported quarter, this athletic footwear and apparels retailer’s bottom line came in at 71 cents per share, which surpassed the Zacks Consensus Estimate by 2.9%. Aspects Likely to Impact Q3 Performance
Foot Locker has been gaining from consumers’ favorable response toward its assortments, as stores reopened. Moreover, the company’s digital business has remained sturdy, backed by strong online product offerings as well as promotional efforts. Markedly, the company has been effectively managing inventory and improving supply-chain efficiencies. These upsides are likely to have supported the company’s performance during the third quarter.
On its last earnings call, management highlighted that it is cautious about evolving pandemic-related challenges and its potential impact on the back-to-school season as well as team-sports participations. Again, the impact of a highly-promotional environment as well as increased digital and shipping expenses on margins cannot be ruled out. What the Zacks Model Unveils
Our proven model predict an earnings beat for Foot Locker this time around. The combination of a positive
Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter. Foot Locker carries a Zacks Rank #3 and an Earnings ESP of 4.18%. Stocks Poised to Beat Earnings Estimates
Here are some more companies you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat.
Casey’s General Stores, Inc. ( CASY Quick Quote CASY - Free Report) has an Earnings ESP of +3.32% and a Zacks Rank #1, at present. You can see . the complete list of today’s Zacks #1 Rank stocks here DICKS Sporting Goods, Inc. ( DKS Quick Quote DKS - Free Report) has an Earnings ESP of +16.18% and a Zacks Rank #3. Bed Bath & Beyond Inc. ( BBBY Quick Quote BBBY - Free Report) has an Earnings ESP of +11.77% and a Zacks Rank #3. Zacks Names “Single Best Pick to Double”
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