We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Foot Locker (FL) Q2 Earnings Coming Up: What's in the Offing?
Read MoreHide Full Article
Foot Locker, Inc. (FL - Free Report) is expected to have registered a decline in its top and bottom line from the last fiscal year’s respective quarterly reported figures when it releases second-quarter fiscal 2023 results on Aug 23, before market open. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $1,872 million, indicating a 9.2% fall from the prior fiscal year’s quarterly reported figure.
The consensus estimate for quarterly earnings currently stands at 4 cents per share, suggesting a significant decrease from earnings of $1.10 per share reported in the year-earlier quarter. The consensus mark has been stable over the past 30 days.
This athletic shoes and apparel retailer delivered an earnings surprise of 34.9%, on average, in the trailing four quarters.
Key Factors to Note
Foot Locker’s quarterly performance is likely to have been hurt by a tough macroeconomic landscape, including inflationary pressures affecting customers’ spending decisions and currency headwinds. In fact, a slowdown in consumer spending has been hurting the company’s performance. Also, increased markdowns on higher promotional activity and occupancy deleverage have been weighing on the company’s margins. These factors, coupled with any deleverage in selling, general & administrative expenses, are expected to have hurt FL’s performance in the fiscal second quarter.
On its last earnings call, management had projected comparable sales to decline in high-single digits year over year. It had envisioned second-quarter earnings to be below 5 cents a share. We expect comparable sales to decrease 9.2% in the quarter to be reported.
However, management has been trying to improve performance through operational and financial initiatives. FL has been making efforts for a while to enhance digital capabilities and strengthen assortments to aid growth. The company is progressing well with its FLX membership program and strategic deals, including partnerships and acquisitions. These tailwinds are likely to have provided some cushion to the quarter under review.
What the Zacks Model Unveils
Our proven model doesn’t conclusively 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. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
The company is expected to register bottom-line growth when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 15 cents suggests an increase of 275% from the year-ago quarter.
American Eagle Outfitters’ top line is anticipated to fall year over year. The consensus mark for revenues is pegged at $1.18 billion, indicating a drop of 1.3% from the figure reported in the year-ago quarter.
Five Below (FIVE - Free Report) currently has an Earnings ESP of +1.33% and a Zacks Rank of 2. FIVE is likely to register top-line improvement when it reports second-quarter fiscal 2023 numbers.
The Zacks Consensus Estimate for Five Below’s quarterly revenues is pegged at $760.5 million, calling for growth of 13.7% from the prior-year quarter’s reported figure. The consensus mark for the quarterly earnings per share of 83 cents suggests a 12.2% increase from the figure reported in the year-ago quarter. FIVE has a trailing four-quarter earnings surprise of 27.9%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and a Zacks Rank of 3. The company is expected to register a bottom-line decrease when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter.
Casey's top line is anticipated to fall year over year. The consensus mark for revenues is pegged at $3.85 billion, indicating a drop of 13.5% from the figure reported in the year-ago quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Image: Bigstock
Foot Locker (FL) Q2 Earnings Coming Up: What's in the Offing?
Foot Locker, Inc. (FL - Free Report) is expected to have registered a decline in its top and bottom line from the last fiscal year’s respective quarterly reported figures when it releases second-quarter fiscal 2023 results on Aug 23, before market open. The Zacks Consensus Estimate for quarterly revenues is currently pegged at $1,872 million, indicating a 9.2% fall from the prior fiscal year’s quarterly reported figure.
The consensus estimate for quarterly earnings currently stands at 4 cents per share, suggesting a significant decrease from earnings of $1.10 per share reported in the year-earlier quarter. The consensus mark has been stable over the past 30 days.
This athletic shoes and apparel retailer delivered an earnings surprise of 34.9%, on average, in the trailing four quarters.
Key Factors to Note
Foot Locker’s quarterly performance is likely to have been hurt by a tough macroeconomic landscape, including inflationary pressures affecting customers’ spending decisions and currency headwinds. In fact, a slowdown in consumer spending has been hurting the company’s performance. Also, increased markdowns on higher promotional activity and occupancy deleverage have been weighing on the company’s margins. These factors, coupled with any deleverage in selling, general & administrative expenses, are expected to have hurt FL’s performance in the fiscal second quarter.
On its last earnings call, management had projected comparable sales to decline in high-single digits year over year. It had envisioned second-quarter earnings to be below 5 cents a share. We expect comparable sales to decrease 9.2% in the quarter to be reported.
However, management has been trying to improve performance through operational and financial initiatives. FL has been making efforts for a while to enhance digital capabilities and strengthen assortments to aid growth. The company is progressing well with its FLX membership program and strategic deals, including partnerships and acquisitions. These tailwinds are likely to have provided some cushion to the quarter under review.
What the Zacks Model Unveils
Our proven model doesn’t conclusively 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. But that’s not the case here. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Foot Locker, Inc. Price and EPS Surprise
Foot Locker, Inc. price-eps-surprise | Foot Locker, Inc. Quote
Foot Locker has an Earnings ESP of -4.76% and a Zacks Rank of 3.
Stocks With the Favorable Combination
Here are a few companies, which according to our model, have the right combination to beat on earnings this reporting cycle:
American Eagle Outfitters (AEO - Free Report) currently has an Earnings ESP of +11.07% and a Zacks Rank of 2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The company is expected to register bottom-line growth when it reports second-quarter fiscal 2023 results. The Zacks Consensus Estimate for quarterly earnings per share of 15 cents suggests an increase of 275% from the year-ago quarter.
American Eagle Outfitters’ top line is anticipated to fall year over year. The consensus mark for revenues is pegged at $1.18 billion, indicating a drop of 1.3% from the figure reported in the year-ago quarter.
Five Below (FIVE - Free Report) currently has an Earnings ESP of +1.33% and a Zacks Rank of 2. FIVE is likely to register top-line improvement when it reports second-quarter fiscal 2023 numbers.
The Zacks Consensus Estimate for Five Below’s quarterly revenues is pegged at $760.5 million, calling for growth of 13.7% from the prior-year quarter’s reported figure. The consensus mark for the quarterly earnings per share of 83 cents suggests a 12.2% increase from the figure reported in the year-ago quarter. FIVE has a trailing four-quarter earnings surprise of 27.9%, on average.
Casey's General Stores (CASY - Free Report) currently has an Earnings ESP of +1.03% and a Zacks Rank of 3. The company is expected to register a bottom-line decrease when it reports first-quarter fiscal 2024 results. The Zacks Consensus Estimate for quarterly earnings per share of $3.39 suggests a decline of 17.1% from the year-ago quarter.
Casey's top line is anticipated to fall year over year. The consensus mark for revenues is pegged at $3.85 billion, indicating a drop of 13.5% from the figure reported in the year-ago quarter. CASY has a trailing four-quarter earnings surprise of 7.5%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.