Categories AlphaGraphs, Consumer, Earnings
FL Earnings: Foot Locker Q2 adjusted profit drops as sales decline 9%
Shoe store chain Foot Locker (NYSE: FL) reported lower sales and earnings for the second quarter of 2022. There was a sharp decline in comparable store sales.
Second-quarter earnings, adjusted for special items, dropped to $1.10 per share from $2.09 per share in the same period of last year. Unadjusted profit plunged to $94 million or $0.99 per share from $430 million or $4.09 per share in the second quarter of 2021.
The bottom line was negatively impacted by a 9% decrease in net sales to $2.07 billion. Comparable store sales declined 10.3%, continuing the recent downtrend.
Check this space to read management/analysts’ comments on Foot Locker’s Q1 2022 results
“Despite an increasingly challenging macroeconomic backdrop, we delivered a solid quarter against the favorable fiscal stimulus and promotional environment from last year. Driven by strong execution from our team and ongoing progress against our key objectives, we grew our sales 16.4% above levels from 2019,” said Richard Johnson, chief executive officer of Foot Locker.
Prior Performance
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Costco (COST) reports strong growth in Q1 FY26 earnings; revenue up 8%
Costco Wholesale Corporation (NASDAQ: COST) has reported an increase in net income for the first quarter of fiscal 2026. Revenues grew 8.3% year-over-year. The Issaquah, Washington-headquartered warehouse giant’s total revenues
AVGO Earnings: Broadcom reports higher Q4 FY25 revenue, profit; results beat
Semiconductor company Broadcom, Inc. (NASDAQ: AVGO) on Thursday reported an increase in revenue and adjusted earnings for the fourth quarter of fiscal 2025. The numbers also surpassed analysts' expectations. Adjusted
Lamb Weston (LW) is set to report Q2 2026 earnings next week, here’s what to look for
Shares of Lamb Weston Holdings, Inc. (NYSE: LW) rose over 1% on Thursday. The stock has gained 4% over the past three months. The French fry giant is slated to
