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Foot Locker (FL) Beats Q3 Earnings & Revenue Estimates

Zacks Equity Research
Updated

Foot Locker, Inc. FL, the operator of athletic shoes and apparel retailer, came out with third-quarter fiscal 2015 results, wherein adjusted earnings of $1.00 per share came ahead of the Zacks Consensus Estimate of 94 cents, and jumped 20% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2015 has moved down by a penny but for fiscal 2016 it has remained unchanged over the past 30 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 11.2%.

Revenues: Foot Locker generated total revenue of $1,794 million that increased 3.6% year over year, and also came ahead of the Zacks Consensus Estimate of $1,782 million. Comparable-store sales jumped 8.7% during the quarter.

Key Events: During the quarter, Foot Locker opened 30 new outlets, remodeled or relocated 48 outlets, and shuttered 16 outlets. During the quarter, the company repurchased 1.56 million shares of worth $110.6 million and also paid dividends of $35 million.

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Zacks Rank: Currently, Foot Locker carries a Zacks Rank #3 (Hold) which is subject to change following the earnings announcement.

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FOOT LOCKER INC (FL): Free Stock Analysis Report
 
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Zacks Investment Research