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Foot Locker, Inc. (FL - Free Report) continued with its positive earnings surprise streak for the fourth straight quarter, when it reported second-quarter fiscal 2018 results. This operator of athletic shoes and apparel retailer delivered quarterly earnings of 75 cents a share that beat the Zacks Consensus Estimate of 70 cents and surged 21% from the year-ago period.
Notably, in a year, the stock has advanced 48% compared with the industry’s growth of 43%.
The New York-based retailer generated total sales of $1,782 million that not only increased 4.8% year over year but also came ahead of the Zacks Consensus Estimate of $1,764 million, marking the second successive quarter of beat. Excluding the effect of foreign currency fluctuations, total sales rose 3.9%.
Meanwhile, comparable-store sales (comps) inched up 0.5% during the quarter under review. Although, comps improved marginally, it fared much better than the decline of 2.8% witnessed in the preceding quarter.
Gross margin expanded 60 basis points to 30.2% during the quarter. SG&A expense rate increased 140 basis points to 21.3%.
Foot Locker, Inc. Price, Consensus and EPS Surprise
During the quarter under review, Foot Locker opened 13 new outlets, remodeled or relocated 33 outlets, and shuttered 21 outlets. As of Aug 4, 2018, the company operated 3,276 outlets across 24 countries in North America, Australia, New Zealand and Europe. Apart from these, there are 107 franchised Foot Locker stores in the Middle East. Germany has 10 franchised Runners Point stores.
Other Financial Details
Foot Locker ended the quarter with cash and cash equivalents of $950 million, long-term debt of $124 million, and shareholders’ equity of $2,482 million. During the quarter, the company repurchased 1.8 million shares of worth $93 million and paid a quarterly dividend of $40 million.
Wrapping Up
Foot Locker is certainly trying to improve performance through operational and financial initiatives. This Zacks Rank #3 (Hold) company is focusing 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.
3 Hot Stocks Awaiting Your Look
Boot Barn Holdings (BOOT - Free Report) delivered an average positive earnings surprise of 31.8% in the trailing four quarters. It has a long-term earnings growth rate of 23% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Children's Place (PLCE - Free Report) has a long-term earnings growth rate of 8% and a Zacks Rank #2 (Buy).
Urban Outfitters (URBN - Free Report) delivered an average positive earnings surprise of 17.7% in the trailing four quarters. It has a long-term earnings growth rate of 12% and a Zacks Rank #2.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Image: Bigstock
Foot Locker (FL) Q2 Earnings & Sales Beat Estimates, Up Y/Y
Foot Locker, Inc. (FL - Free Report) continued with its positive earnings surprise streak for the fourth straight quarter, when it reported second-quarter fiscal 2018 results. This operator of athletic shoes and apparel retailer delivered quarterly earnings of 75 cents a share that beat the Zacks Consensus Estimate of 70 cents and surged 21% from the year-ago period.
Notably, in a year, the stock has advanced 48% compared with the industry’s growth of 43%.
The New York-based retailer generated total sales of $1,782 million that not only increased 4.8% year over year but also came ahead of the Zacks Consensus Estimate of $1,764 million, marking the second successive quarter of beat. Excluding the effect of foreign currency fluctuations, total sales rose 3.9%.
Meanwhile, comparable-store sales (comps) inched up 0.5% during the quarter under review. Although, comps improved marginally, it fared much better than the decline of 2.8% witnessed in the preceding quarter.
Gross margin expanded 60 basis points to 30.2% during the quarter. SG&A expense rate increased 140 basis points to 21.3%.
Foot Locker, Inc. Price, Consensus and EPS Surprise
Foot Locker, Inc. Price, Consensus and EPS Surprise | Foot Locker, Inc. Quote
Store Update
During the quarter under review, Foot Locker opened 13 new outlets, remodeled or relocated 33 outlets, and shuttered 21 outlets. As of Aug 4, 2018, the company operated 3,276 outlets across 24 countries in North America, Australia, New Zealand and Europe. Apart from these, there are 107 franchised Foot Locker stores in the Middle East. Germany has 10 franchised Runners Point stores.
Other Financial Details
Foot Locker ended the quarter with cash and cash equivalents of $950 million, long-term debt of $124 million, and shareholders’ equity of $2,482 million. During the quarter, the company repurchased 1.8 million shares of worth $93 million and paid a quarterly dividend of $40 million.
Wrapping Up
Foot Locker is certainly trying to improve performance through operational and financial initiatives. This Zacks Rank #3 (Hold) company is focusing 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.
3 Hot Stocks Awaiting Your Look
Boot Barn Holdings (BOOT - Free Report) delivered an average positive earnings surprise of 31.8% in the trailing four quarters. It has a long-term earnings growth rate of 23% and a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Children's Place (PLCE - Free Report) has a long-term earnings growth rate of 8% and a Zacks Rank #2 (Buy).
Urban Outfitters (URBN - Free Report) delivered an average positive earnings surprise of 17.7% in the trailing four quarters. It has a long-term earnings growth rate of 12% and a Zacks Rank #2.
5 Medical Stocks to Buy Now
Zacks names 5 companies poised to ride a medical breakthrough that is targeting cures for leukemia, AIDS, muscular dystrophy, hemophilia, and other conditions.
New products in this field are already generating substantial revenue and even more wondrous treatments are in the pipeline. Early investors could realize exceptional profits.
Click here to see the 5 stocks >>