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Foot Locker Reports Mixed Q4 Earnings, Store Sales Declined 1.6%

Foot Locker (NYSE: FL) reported fourth-quarter earnings of $1.63 per share on Friday, which beat the analyst consensus estimate of $1.60 by 1.87%. This is a 4.49% increase over earnings of $1.56 per share from the same period last year.

Benzinga · 02/28/2020 12:52

Foot Locker (NYSE: FL) reported fourth-quarter earnings of $1.63 per share on Friday, which beat the analyst consensus estimate of $1.60 by 1.87%. This is a 4.49% increase over earnings of $1.56 per share from the same period last year.

The company reported quarterly sales of $2.221 billion, which missed the analyst consensus estimate of $2.25 billion by 1.29%. This is a 2.24% decrease over sales of $2.272 billion the same period last year.

Foot Locker reported fourth-quarter comparable-store sales decreased 1.6%.

"While we had leading positions in key on-trend footwear styles, this was not enough to offset softer than expected demand during the compressed holiday season, a very promotional marketplace for apparel, and tougher launch comparisons," said Richard Johnson, CEO of Foot Locker.

Foot Locker shares were trading up 1.6% at $34.10 in Friday’s pre-market session. The stock has a 52-week high of $68 and a 52-week low of $36.82.

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