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.
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
Key highlights from Autodesk (ADSK) Q4 2021 earnings results
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Infographic: Beyond Meat (BYND) reports wider Q4 loss; Revenue up 4%
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic stock tanks on delayed test flight
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000
