We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
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.
Image: Bigstock
Foot Locker (FL) Beats Q2 Earnings Estimates, Stock Gains
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.
FOOT LOCKER INC Price, Consensus and EPS Surprise
FOOT LOCKER INC Price, Consensus and EPS Surprise | FOOT LOCKER INC Quote
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 >>