Join        Login             Stock Quote

Foot Locker (FL) Gains After Q3 Earnings Jump 60 Pct, Sales Rise

 November 16, 2012 07:47 AM

(By Balachander) Foot Locker Inc. (NYSE: FL), a retailer of athletic footwear and apparel, posted stronger-than-forecast quarterly earnings, helped by 10.2 percent jump in comparable store sales. Shares rose 1.63 percent in premarket trading.

Earnings increased to $106 million or 69 cents per share from $66 million or 43 cents per share in the year-ago quarter. On a non-GAAP basis, Foot Locker earned 63 cents per share for the third quarter. 

Sales grew 9.3 percent to $1.52 billion. Excluding currency impact, sales rose 11 percent.

Wall Street analysts, on average, expected earnings per share of 54 cents on sales of $1.47 billion.

[Related -Foot Locker, Inc. (FL) Put Options Active As Stock Gets Stomped]

Store sales grew 9.4 percent and direct-to-customer sales jumped 18.3 percent.

At the end of the third quarter, New York-based Foot Locker's cash and short-term investments totaled $853 million. Total cash position, net of debt, was $158 million higher than the year-ago period.

As of Oct. 27, 2012, the company operated 3,367 stores in 23 countries in North America, Europe, Australia, and New Zealand.

FL shares ended Thursday's regular trading at $31.85. The stock has been trading between $21.03 and $37.65 over the past year.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageWatch This Alternative Investment for a Buy Signal

All major U.S. indices closed essentially unchanged last week except for the small-cap Russell 2000. While read on...

article imageUS REITs Edged Higher Last Week As Emerging Markets Slumped

Real estate investment trusts (REITs) in the US took the lead in last week’s shortened holiday trading week read on...

article imageA Contrarian Perspective On The Short EuroTtrade

As the euro continues to drift lower, it has become the accepted wisdom that we are headed for parity with read on...

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.