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Foot Locker shares soar 18.5% premarket after blowout earnings
Foot Locker Inc. shares soared 18.5% in premarket trade Friday, after the sporting goods and apparel retailer blew past earnings estimates for its fiscal fourth quarter. New York-based Foot Locker said it had net income of $158 million, or $1.39 a share, in the quarter to Feb. 2, after a loss of $49 million, or 40 cents a share, in the year-earlier quarter, when it booked charges including a tax charge. Adjusted per-share earnings came to $1.56, well ahead of the $1.40 FactSet consensus. Sales rose to $2.272 billion from $2.210 billion, also ahead of the FactSet consensus of $2.184 billion. Same-store sales soared 9.7%, well ahead of the 4.5% FactSet consensus. "We believe that by maintaining our focus on bringing differentiated experiences to youth culture, we can continue to elevate our financial performance by generating a mid-single digit comparable sales gain and another double-digit percentage increase in earnings per share," Chief Executive Richard Johnson said in a statement. Shares have gained 29.7% in the last 12 months, while the S&P 500 has gained 4.2%.
https://finance.yahoo.com/m/1eb51b9.../foot-locker-shares-soar-18.5%.html?.tsrc=rss
Foot Locker Inc. shares soared 18.5% in premarket trade Friday, after the sporting goods and apparel retailer blew past earnings estimates for its fiscal fourth quarter. New York-based Foot Locker said it had net income of $158 million, or $1.39 a share, in the quarter to Feb. 2, after a loss of $49 million, or 40 cents a share, in the year-earlier quarter, when it booked charges including a tax charge. Adjusted per-share earnings came to $1.56, well ahead of the $1.40 FactSet consensus. Sales rose to $2.272 billion from $2.210 billion, also ahead of the FactSet consensus of $2.184 billion. Same-store sales soared 9.7%, well ahead of the 4.5% FactSet consensus. "We believe that by maintaining our focus on bringing differentiated experiences to youth culture, we can continue to elevate our financial performance by generating a mid-single digit comparable sales gain and another double-digit percentage increase in earnings per share," Chief Executive Richard Johnson said in a statement. Shares have gained 29.7% in the last 12 months, while the S&P 500 has gained 4.2%.
https://finance.yahoo.com/m/1eb51b9.../foot-locker-shares-soar-18.5%.html?.tsrc=rss
