For the second quarter ended August 4, 2018, the New York-based specialty athletic retailer reported earnings of $0.75 per share on revenues of $1.78 billion, both surpassing the analysts’ forecast. Comp-store sales grew 0.5%.
The company has beaten the analysts’ expectations in the past two quarters. Apart from the Q3 numbers, the investing community will also look out how the company guides for the final quarter of 2018, given the importance of the holiday season. The strong economy, lower unemployment and higher consumer confidence could have boosted Foot Locker’s performance in the third quarter and it might continue in Q4 also.
Investors of Foot Locker’s key suppliers like Nike, Under Armour (UAA) and Adidas also would be watching keenly on the Foot Locker’s results.
Foot Locker’s peer Dick’s Sporting Goods (DKS) is expected to issue its quarterly results on November 28. On Tuesday, November 20, other notable retailers like Best Buy (BBY), Target (TGT), Kohl’s Corp. (KSS) and Ross Stores (ROST) will also be reporting their quarterly results.
Foot Locker Q2 results beat; stock falls on comparable sales miss
The stock, which declined 4.07% at $48.81 on Monday and inched up during the after-market session, had an average analysts’ rating of “Buy” and a price target of $56.71. Shares of the Foot Locker have gained 4% in the year-to-date period and 20% in the past 52-weeks.