Home > Boards > Free Zone > All Trading - Technical > Market Direction and Stock Trends

Foot Locker (FL) Stock Surges as Retailer Crushes

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
DiscoverGold Member Profile
Member Level 
Followed By 585
Posts 82,573
Boards Moderated 45
Alias Born 03/10/04
160x600 placeholder
Top Company News of the Day
The company's standard plan for U.S. users now costs $15.49 a month, up from $13.99.
2-Year Treasury Yield Rises to 0.965% This Week -- Data Talk
10-Year Treasury Yield Rises to 1.771% This Week -- Data Talk
30-Year Treasury Yield Falls to 2.114% This Week -- Data Talk
Corn Turns Higher on Drier Argentina Forecast -- Daily Grain Highlights
Applied Materials on Track for Record High Close -- Data Talk
Meta's Oculus Unit Under FTC-Led Antitrust Probe, Bloomberg Reports
Front Month Nymex RBOB Gasoline Rose 5.22% This Week to Settle at $2.4190 -- Data Talk
Front Month Nymex Natural Gas Rose 8.84% This Week to Settle at $4.2620 -- Data Talk
Housing Starts and Existing Home Sales Seen Down -- Data Week Ahead
AbbVie Gets FDA Approval for Rinvoq for Ages 12 and Older
Stryker Restructures Operations Into Two Business Segments
President Biden to Hold Formal News Conference Wednesday
Monster Beverage on Pace for Largest Percent Decrease Since April 2020 -- Data Talk
DAX Ends the Week 0.40% Lower at 15883.24 -- Data Talk
CAC 40 Index Ends the Week 1.06% Lower at 7143.00 -- Data Talk
STOXX Europe 50 Index Ends the Week 0.47% Lower at 3798.52 -- Data Talk
EURO STOXX 50 Index Ends the Week 0.78% Lower at 4272.19 -- Data Talk
STOXX Europe 600 Index Ends the Week 1.05% Lower at 481.16 -- Data Talk
FTSE 100 Index Ends the Week 0.77% Higher at 7542.95 -- Data Talk
Santander Compensation Due to Andrea Orcel Is Reduced
FTSE 100 Closes 0.3% Lower as Royal Mail, B&M Plummet
JPMorgan Chase On Track for Largest Percent Decrease Since June 2020 -- Data Talk
U.S. Consumer Sentiment Waned in Early January on Omicron, Inflation Fears
Planet Labs Shares Climb After Satellite Launch
U.S. Industrial Production Fell Slightly in December
Brainard, Waller and Evans Weigh In on Fed's Inflation Fight; White House Reveals Nominations for Fed Board -- WSJ
Corby Spirit & Wine Financial Chief Edward Mayle to Leave
J.B. Hunt to Partner With Waymo on Autonomous Driving
DiscoverGold Member Level  Friday, 08/20/21 08:03:28 AM
Re: None
Post # of 41147 
Foot Locker (FL) Stock Surges as Retailer Crushes Earnings, Same-Store Sales Forecasts
By: TheStreet | August 20, 2021

• 'We exited the quarter with positive momentum and are cautiously optimistic about the outlook for the back-half of 2021,' says CFO Andrew Page.

Foot Locker (FL) posted much better-than-expected second quarter earnings Friday, adding to evidence of a brick-and-mortar retail revival in the wake of the coronavirus pandemic.

Foot Locker said adjusted earnings for the three months ending on August 1 came in at $2.21 per share, up 211% from the same period last year and crushing the Street consensus forecast of $1.01 per share. Group revenues, Footlocker said, rose 9.4% to $2.275 billion, again beating analysts' estimates of a $2.09 billion tally, as same-store sales soared 80.3% from last year.

Foot Locker also posted a surprise 5.9% gain in same-store sales, blasting the Refinitiv forecast of just 0.2%, and noted it was 'cautiously optimistic' about the outlook for the back-half of 2021.

"Our strong performance this quarter reflects the health of our category, the deep engagement we have with our customers, and the strategic nature of our relationships with our vendor partners," said CEO Richard Johnson. "This quarter reflects strong results in our women's and kids' footwear business along with broad demand for our apparel and accessories offerings, which combined with more limited promotional activity, led to the outstanding top and bottom line results."

Foot Locker shares were marked 7% higher in pre-market trading immediately following the earnings release to indicate an opening bell price of $58.20

Retail bellwether Macy's (M) lifted it full-year profit guidance Thursday, sending its shares up nearly 20%, after it smashed Street forecasts with an impressive second quarter earnings report.

Macy's smaller rival, Kohl's Corp. (KSS), also blasted Street forecasts with its second quarter earnings, and boosted its full-year profit forecast to between $5.80 to $6.10 per share.

The Commerce Department's July report on U.S. retail sales showed a bigger-than-expected 1.1% decline from the previous month, but also noted that clothing and clothing accessories sales were up 43.4% from last year to around $17.779 billion.

Read Full Story »»»

DiscoverGold

Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Caveat emptor!
• DiscoverGold
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences