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Foot Locker stock price
Foot Locker latest news:
Foot Locker's stock soars after profit, revenue and same-store sales beat expectations
Shares of Foot Locker Inc. shot up 11% in premarket trade Friday, after the athletic footwear retailer reported fiscal third-quarter profit and sales that fell less than expected. Net income for the quarter to Oct. 28 declined to $102 million, or 81 cents a share, from $157 million, or $1.17 a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 87 cents, above the FactSet consensus of 80 cents. Revenue slipped to $1.87 billion from $1.89 billion, but beat the FactSet consensus of $1.83 billion. Same-store sales decreased 3.7% from a year ago, but the FactSet consensus was for a decline of 4.6%. Merchandise inventories were $1.32 billion, down 3.4% from a year ago. Chief Executive Richard Johnson said despite the "highly promotional" environment, the availability of premium product is gradually improving compared with the first half of the year. The stock had plunged 33.2% over the past three months through Thursday, while the SPDR S&P Retail ETF has climbed 6.0% and the S&P 500 has gained 6.4%.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
BRIEF-Foot locker declares quarterly dividend of $0.31 per share
* Foot Locker Inc declares quarterly dividend of $0.31 per
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Further company coverage:
Shares of Foot Locker, Nike down amid Finish Line profit warning
Shares of Foot Locker Inc. fell more than 2% late Monday after competitor Finish Line Inc. warned of lower profits. Shares of Nike Inc. were down 1.4% in late trading. Both stocks ended the regular session down less than 1%. Finish Line said earlier Monday its per-share earnings in the third quarter will come below Wall Street expectations and predicted a decline in sales and profit for the year amid a drop in sales in the first half of the year. Footwear retailers earlier this month were dogged by a rash of analyst downgrades following concerns about changing consumer preferences and deep promotions. Finish Line shares were down more than 23%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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