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Foot Locker Unveils Capital Spending Plan Before Q4 Earnings
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Just few days to go for its fourth-quarter fiscal 2017 earnings release, and Foot Locker, Inc. (FL - Free Report) has already played smart. This New York-based company, which is slated to announce financial results on Mar 2, unveiled a capital allocation plan and rewarded shareholders with a hike of 11% in quarterly dividend to 34.5 cents.
Foot Locker revealed a capital expenditure program of $230 million for 2018. The company plans to spend the capital strategically with primary focus being on developing digital competencies and supply chain. The company’s digital endeavors comprise improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities.
Apart from these, this Zacks Rank #2 (Buy) company plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Further, it is exploring off-mall retail formats opportunities and executing shop-in-shop spaces in collaboration with vendors.
In the recent past, Foot Locker made a strategic investment in Carbon38. Following, the $15 million Series A funding, the retailer of athletic shoes and apparel has taken a minority stake in the world’s major women's luxury active apparel firm.
The company is certainly trying to improve performance through operational and financial initiatives. Management believes that by continually capitalizing on opportunities like kids’ and women’s business, shop-in-shop expansion in partnership with its vendors, store banner.com business, store refurbishment and enhancement of assortments, is likely to benefit the company in the long run. The company is focusing on augmenting e-commerce platform, growing direct-to-consumer operations and tapping underpenetrated markets.
Shares of the company have surged a whopping 45.2% in the past six months, considerably outperforming the industry’s growth of 35.7%.
Looking for More High Performance Stocks
G-III Apparel Group, Ltd. (GIII - Free Report) delivered an average positive earnings surprise of 6.1% in the trailing four quarters. It has a long-term earnings growth rate of 15% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zumiez Inc. (ZUMZ - Free Report) delivered an average positive earnings surprise of 22.2% in the trailing four quarters. It has a long-term earnings growth rate of 18% and a Zacks Rank #2.
Ross Stores, Inc. (ROST - Free Report) delivered an average positive earnings surprise of 5.5% in the trailing four quarters. It has a long-term earnings growth rate of 10% and a Zacks Rank #2.
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And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Foot Locker Unveils Capital Spending Plan Before Q4 Earnings
Just few days to go for its fourth-quarter fiscal 2017 earnings release, and Foot Locker, Inc. (FL - Free Report) has already played smart. This New York-based company, which is slated to announce financial results on Mar 2, unveiled a capital allocation plan and rewarded shareholders with a hike of 11% in quarterly dividend to 34.5 cents.
Foot Locker revealed a capital expenditure program of $230 million for 2018. The company plans to spend the capital strategically with primary focus being on developing digital competencies and supply chain. The company’s digital endeavors comprise improvement of mobile and web platforms, implementation of new point-of-sale software worldwide, and expansion of data analytics capabilities.
Apart from these, this Zacks Rank #2 (Buy) company plans to spend a major portion of the capital on its fleet of stores, including revamping and remodeling of the same. Further, it is exploring off-mall retail formats opportunities and executing shop-in-shop spaces in collaboration with vendors.
In the recent past, Foot Locker made a strategic investment in Carbon38. Following, the $15 million Series A funding, the retailer of athletic shoes and apparel has taken a minority stake in the world’s major women's luxury active apparel firm.
The company is certainly trying to improve performance through operational and financial initiatives. Management believes that by continually capitalizing on opportunities like kids’ and women’s business, shop-in-shop expansion in partnership with its vendors, store banner.com business, store refurbishment and enhancement of assortments, is likely to benefit the company in the long run. The company is focusing on augmenting e-commerce platform, growing direct-to-consumer operations and tapping underpenetrated markets.
Shares of the company have surged a whopping 45.2% in the past six months, considerably outperforming the industry’s growth of 35.7%.
Looking for More High Performance Stocks
G-III Apparel Group, Ltd. (GIII - Free Report) delivered an average positive earnings surprise of 6.1% in the trailing four quarters. It has a long-term earnings growth rate of 15% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Zumiez Inc. (ZUMZ - Free Report) delivered an average positive earnings surprise of 22.2% in the trailing four quarters. It has a long-term earnings growth rate of 18% and a Zacks Rank #2.
Ross Stores, Inc. (ROST - Free Report) delivered an average positive earnings surprise of 5.5% in the trailing four quarters. It has a long-term earnings growth rate of 10% and a Zacks Rank #2.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>