Categories AlphaGraphs, Consumer, Earnings

Foot Locker (FL) slips to a loss in Q1, misses estimates

Specialty athletic retailer Foot Locker, Inc. (NYSE: FL) reported its financial results for the quarter ended May 2, 2020, on Friday before the market opens. The results missed analysts’ expectations.

Foot Locker (FL) Q1 2020 earnings review

The company slipped to a loss in the first quarter of 2020 from a profit last year, due to a 43% dip in the top-line. Comparable-store sales decreased by 42.8%. During the first quarter, the company opened 5 new stores, remodeled or relocated 9 stores, and permanently closed 21 stores.

The company has taken actions to preserve cash and increase liquidity. The board has decided to temporarily suspend the cash dividend beginning with the Q2 payment. The Board will continue to evaluate the dividend policy on a quarterly basis. As previously disclosed on April 22, the company also temporarily suspended its share repurchase program.

Past Performance

Most Popular

Earnings: Hewlett Packard Enterprise (HPE) Q4 earnings beat Street view

Information technology solutions provider Hewlett Packard Enterprise (NYSE: HPE) Tuesday reported higher earnings and revenues for the fourth quarter of 2022. The bottom line also exceeded analysts' forecasts. Fourth-quarter profit,

Intuit (INTU) Q1 2023 Earnings: Key financials and quarterly highlights

Intuit (NASDAQ: INTU) reported first quarter 2023 earnings results today. Total revenue grew 29% year-over-year to $2.6 billion. Net income was $40 million, or $0.14 per share, compared to $228

Pinterest (PINS): Here are three factors that work in favor of this social media company

Shares of Pinterest Inc. (NYSE: PINS) were down on Tuesday. The stock has dropped 33% year-to-date and 39% over the past 12 months. Pinterest was one of the stocks that

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top