Footwear and apparel retailer Foot Locker (NYSE:FL) will be announcing earnings results tomorrow before the bell. Here's what to expect.
Last quarter Foot Locker reported revenues of $1.99 billion, down 8.6% year on year, beating analyst revenue expectations by 1.6%. It was a strong quarter for the company, with an impressive beat of analysts'revenue and earnings estimates, driven by better-than-expected (but still declining) same-store sales growth.
Is Foot Locker buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting Foot Locker's revenue to decline 2.5% year on year to $2.28 billion, a deceleration on the 0.2% year-over-year decrease in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.32 per share.
The analysts covering the company have had mixed opinions about the business heading into the earnings, with revenue estimates seeing five upward and two downward revisions over the last thirty days. The company missed Wall St's revenue estimates three times over the last two years.
Looking at Foot Locker's peers in the apparel and footwear retail segment, some of them have already reported Q4 earnings results, giving us a hint of what we can expect. TJX (NYSE:TJX) delivered top-line growth of 13% year on year, beating analyst estimates by 1.4% and Urban Outfitters (NASDAQ:URBN) reported revenues up 7.3% year on year, missing analyst estimates by 1%. TJX traded flat on the results, Urban Outfitters was down 6.3%.
Read the full analysis of TJX's and Urban Outfitters's results on StockStory.
There has been positive sentiment among investors in the apparel and footwear retail segment, with the stocks up on average 9.8% over the last month. Foot Locker is up 19.3% during the same time, and is heading into the earnings with analyst price target of $26.2, compared to share price of $33.7.
