Foot Locker, Inc. (NYSE:FL) , the operator of athletic shoes and apparel retailer, came out with third-quarter fiscal 2017 results, wherein adjusted earnings of 87 cents a share beat the Zacks Consensus Estimate of 80 cents but declined 23% year over year.
Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 2017 has decreased by a penny in the past 30 days. In the trailing four quarters (excluding the quarter under review), the company has underperformed the Zacks Consensus Estimate by an average of 6.6%.
Revenues: Foot Locker generated total sales of $1,870 million that came ahead of the Zacks Consensus Estimate of $1,843 million but decreased 0.8% year over year. Comparable-store sales fell 3.7% during the quarter. Excluding the impact of foreign currency fluctuations, total sales dropped 2.3%.
Foot Locker, Inc. Price, Consensus and EPS Surprise
Foot Locker, Inc. Price, Consensus and EPS Surprise | Foot Locker, Inc. Quote
Key Events: During the quarter under review, Foot Locker opened 12 new outlets, remodeled or relocated 41 outlets, and shuttered 22 outlets. As of Oct 28, 2017, the company operated 3,349 outlets. During the quarter, the company repurchased 8.69 million shares of worth $304 million.
Zacks Rank: Currently, Foot Locker carries a Zacks Rank #3 (Hold), which is subject to change following the earnings announcement. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Stock Movement: Foot Locker’s shares are up nearly 14% during pre-market trading hours following the earnings release.
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Foot Locker, Inc. (FL): Free Stock Analysis Report
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