==Foot Locker (FL) reported earnings on Fri 18 Nov 22 (a/h)

 

Foot Locker beats by $0.15, beats on revs; guides Q4 EPS above consensus; raises FY23 EPS above consensus, revs above consensus

• Reports Q3 (Oct) earnings of $1.27 per share, $0.15 better than the S&P Capital IQ Consensus of $1.12; revenues fell 0.7% year/year to $2.17 bln vs the $2.1 bln S&P Capital IQ Consensus.
  • Comparable-store sales increased 0.8% year-over-year
• Co issues upside guidance for Q4, sees EPS of $0.45-0.53 vs. $0.43 S&P Capital IQ Consensus.
  • Co sees Q4 comps down 8-10%
• Co issues upside guidance for FY23, sees EPS of $4.42-4.50 vs. $4.26 S&P Capital IQ Consensus; sees FY23 revs of down 4-5% to $8.51-8.60 bln vs. $8.31 bln S&P Capital IQ Consensus.
• Co raises FY22 comps to down 4-5% from down 8-9% prior

Earnings this week : Nov 14 - 18, 22 (wk 46)

Monday (Nov 14)

• Morning:  MASS ACM YOU CGEN XRAY MNDY OTLY TWKS TSEM TSN
• Afternoon: AZTA DLO HLLY JJSF  NU SHLS  VLTA VVV

Tuesday (Nov 15)

• Morning: ARMK BERY DAVA ENR AQUA HD HUYA DNUT SE TME WKME WMT
• Afternoon:  AAP  LVLU  VREX

Wednesday (Nov 16)

• Morning:  LOW ONON SR TGT TJX
• Afternoon:  BBWI CSCO CPA CPRT GLBE HP HI KLIC NVDA SONO

Thursday (Nov 17)

• Morning: BABA BJ BRC BV CAMT CLBT DOLE KSS M NTES NJR WB
• Afternoon:  AMAT BRBR DLB ESE FTCH GPS GLOB KEYS PANW POST ROST STNE UGI WSM WWD

Friday (Nov 18)  

• Morning:  ATKR BKE FL  JD SPB TWST

Foot Locker (FL) reported earnings on Fri 22 May 20 (b/o)

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Foot Locker misses by $0.44, misses on revs; Q1 comps -42.8%; decided to temporarily suspend the cash dividend beginning with the Q2 payment 

Reports Q1 (Apr) loss of $0.67 per share, excluding non-recurring items, $0.44 worse than the S&P Capital IQ Consensus of ($0.23); revenues fell 43.4% year/year to $1.18 bln vs the $1.31 bln S&P Capital IQ Consensus. First quarter comparable-store sales decreased 42.8 percent.

Actions taken by the Company to preserve cash and increase liquidity included: borrowing $330 million under the Company's $400 million credit facility; limiting capital expenditures to essential projects and reducing the full year capital expenditure forecast by 50% to $138 million; minimizing non-essential spending, including reductions in marketing, extending payment terms, limiting rent payments, and reducing merchandise purchases; and reducing salaries and deferring incentive compensation for the CEO and senior executives.

Additionally, while Foot Locker remains committed to returning capital to shareholders, the Company's Board of Directors has decided to temporarily suspend the cash dividend beginning with the second quarter payment. The Board will continue to evaluate the dividend policy on a quarterly basis. As previously disclosed on April 22, the Company also temporarily suspended its share repurchase program.

Earnings this week : May 18 - 22, 20 (wk 21)

Monday (May 18)

• Morning: IGT SE
• Afternoon: BIDU BILI BVN IQ

Tuesday (May 19)

• Morning: AAP DY EXP HD KSS SINA WMT WB
• Afternoon: KRNT NTES RRR SQM URBN

Wednesday (May 20)

• Morning: ADI EV FRO LOW MCK ROLL TGT VER 
• Afternoon: BOOT CPRT EXPE HUYA YY LB NDSN SCVL SKY SNPS TTWO ZTO

Thursday (May 21)

• Morning: WMS AINV BBY BJ BRC DAVA HRL MDT TGP TNK TJX USPH
• Afternoon: A DECK HPE INTU RAMP NVDA PANW PRSP PLT ROST SPLK

Friday (May 22) 

• Morning: BABA BKE CAE DE FL PDD

Foot Locker (FL) reported earnings on Fri 22 Nov 19 (b/o)

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Foot Locker beats by $0.05, reports revs in-line; Q3 comps +5.7%

Reports Q3 (Oct) earnings of $1.13 per share, excluding non-recurring items, $0.05 better than the S&P Capital IQ Consensus of $1.08; revenues rose 3.9% year/year to $1.93 bln vs the $1.94 bln S&P Capital IQ Consensus.

Third quarter comparable-store sales increased 5.7 percent. Total third quarter sales increased 3.9 percent, to $1,932 million, compared to sales of $1,860 million for the corresponding prior-year period. Excluding the effect of foreign exchange rate fluctuations, total sales for the third quarter of 2019 increased 5.1 percent.

Earnings this week : Nov 18 - 22, 19 (wk 47)

Monday (Nov 18)

• Morning: CCMP LX MANU QD
• Afternoon: CRMT ASH BILI KRNT WWD ZTO

Tuesday (Nov 19)

• Morning: WUBA ARMK DAVA PPDF HD JKS KSS MMS MDT NJR TJX TDG
• Afternoon: ESE PAGS URBN

Wednesday (Nov 20)

• Morning: AVYA LOW PDD QIWI SR TGT
• Afternoon: CPRT CUB GTBIF JACK LB LZB NTES NUAN SQM SONO

Thursday (Nov 21)

• Morning: ASYS PLAN BZUN BERY BJ BRC BV AQUA HMLP M SDRL SFL
• Afternoon: BRBR ENTA GPS IIIV INTU MATW JWN OOMA POST PSTG ROST SCVL SPLK WSM

Friday (Nov 22)

• Morning: ATKR BKE FL FUTU HIBB SJM

Notable earnings reports:

• Manchester United (NYSE:MANU) on November 18; 
• Home Depot (HD), TJX Companies (NYSE:TJX) and Urban Outfitters (NASDAQ:URBN) on November 19; 
• L Brands (NYSE:LB), Lowe's (LOW), Jack in the Box (NASDAQ:JACK) and Target (TGT) on November 20; 
• Gap (NYSE:GPS), Macy's (NYSE:M), Splunk (NASDAQ:SPLK), Ross Stores (NASDAQ:ROST) and Nordstrom (NYSE:JWN) on November 21; 
• Foot Locker (NYSE:FL) and J.M. Smucker (NYSE:SJM) on November 22.

=Foot Locker (FL) reported earnings on Fri 23 Aug 2019 (b/o)

Foot Locker misses by $0.01, misses on revs; comps +0.8%

Reports Q2 (Jul) earnings of $0.66 per share, excluding non-recurring items, $0.01 worse thanthe S&P Capital IQ Consensus of $0.67; revenues fell 0.4% year/year to $1.77 bln vs the $1.83 bln S&P Capital IQ Consensus.

Second quarter comparable-store sales increased 0.8 percent (vs. estimates for +3.3%). Excluding the effect of foreign exchange rate fluctuations, total sales for the second quarter of 2019 increased 0.8 percent. The Company's gross margin rate decreased to 30.1 percent from 30.2 percent a year ago. SG&A expense rate increased to 22.2 percent from 21.3 percent in the second quarter of 2019, largely reflecting the ongoing investments the Company is making in its digital capabilities and infrastructure.

"In addition to making meaningful investments in our stores and digital capabilities during the quarter, we maintained our disciplined approach to inventory management and are set-up to continue flowing fresh, exciting product offerings for the back-half of 2019," said Lauren Peters, Executive Vice President and Chief Financial Officer. "We remain optimistic that we can deliver a mid-single digit comparable sales gain for the full year and high-single digit adjusted EPS growth."

Earnings this week : Aug 19 - 23, 19 (wk 34)

Monday (Aug 19)

• Morning: EL  QIWI  SINA  WB
• Afternoon: BIDU FN IQ

Tuesday (Aug 20)
Morning: CMCM HD KSS MDT MSG PINC PLAB PPDF SDRL SE SFL TJX

• Afternoon: AMCR CREE JKHY LZB NDSN SCSC TOL URBN

Wednesday (Aug 21)

• Morning: ADI BZUN KLXE LOW MSGN PLCE   PDD  RY TGT VIOT
• Afternoon: HTHT JWN KEYS LB PSTG QADA SNPS  SPLK WUBA ZAYO

Thursday (Aug 22)

• Morning: BJ CM DKS FLWS FLY GSX  HMLP HRL TTC
• Afternoon: ATGE CRM GPS HPQ INTU ROST VMW

Friday (Aug 23) 

• Morning: BKE  FL HIBB

Notable earnings reports:

• Baidu (NASDAQ:BIDU) and Estee Lauder (NYSE:EL) on August 19; 
• Home Depot (HD), TJX Companies (NYSE:TJX), Toll Brothers (NYSE:TOL), Urban Outfitters (NASDAQ:URBN) and Kohl's (NYSE:KSS) on August 20; 
• Splunk (NASDAQ:SPLK), Target (NYSE:TGT), Nordstrom (NYSE:JWN), Lowe's (LOW) and Analog Devices (NASDAQ:ADI) on August 21; 
• Salesforce.com (NYSE:CRM), VMWare (NYSE:VMW), HP Inc. (NYSE:HPQ), Gap (NYSE:GPS) and Dick's Sporting Goods (NYSE:DKS) on August 22; 
• Foot Locker (NYSE:FL) on August 23.

=Foot Locker (FL) reported earnings on Fri 24 May 2019 (b/o)

Foot Locker misses by $0.07, misses on revs; lowers FY20 EPS guidance based on the share repurchase activity to date; reaffirms FY20 comp guidance; Q1 comps +4.6% 

• Reports Q1 (Apr) adjusted earnings of $1.53 per share, $0.07 worse than the S&P Capital IQ Consensus of $1.60; revenues rose 2.6% year/year to $2.08 bln vs the $2.11 bln S&P Capital IQ Consensus. 
• First quarter comparable-store sales increased 4.6%.
• Co issues lowered guidance for FY20, sees EPS of high single digit EPS growth (cons +10%) from double digit growth prior guidance vs. $5.19 S&P Capital IQ Consensus. The Company is on track with its previously stated full-year outlook, including sales, gross margin, and SG&A; however, earnings per share are now expected to be up high-single digits based on the share repurchase activity to date.
  • Prior guidance from last quarter conference call: msd comps gain w/ double-digit EPS increase. Co sees slight headwind from currency in 1H of year (greatest impact in Q1), watching impact of slower/smaller tax refunds. Co sees 20-40 bps gross margin improvement for 2019.

Earnings this week : May 20 - 24, 19 (wk 21)

Monday (May 20)

• Morning: AZZ IGT PDD QD SPTN
• Afternoon: NDSN

Tuesday (May 21)

• Morning: AZO DAVA DY EV HD JCP KSS MNRO SFL TJX
• Afternoon: CRMT JWN OOMA PSTG SE SKY TOL URBN

Wednesday (May 22)

• Morning: AAP ADI CM CSWI LOW PLAB TGT VFC
• Afternoon: CPRT CTRP HTHT LB MOD NTAP SCVL SNPS VIPS

Thursday (May 23)

• Morning: BBY BJ BRC CTRN HRL MDT ROLL RY SDRL SINA TD TK TNK TTC VIOT WB WMS
• Afternoon: ADSK CVCO DECK DXC HPE HPQ INTU LGF.A ROST SPLK VSAT

Friday (May 24) 

• Morning: BKE FL HIBB

====Foot Locker (FL) reported earnings on Tue 20 Nov 2018 (a/h)

Foot Locker beats by $0.02, reports revs in-line; says it's well positioned to produce even stronger results in the all-important holiday selling season

• Reports Q3 (Oct) earnings of $0.95 per share, excluding non-recurring items, $0.02 better than the S&P Capital IQ Consensus of $0.93; revenues fell 0.5% year/year to $1.86 bln vs the $1.86 bln S&P Capital IQ Consensus.
  • Q3 same store comps were +2.9%.
• Co believes it's well positioned to produce even stronger results in the all-important holiday selling season and Q4 (Jan) overall.

Earnings this week : Nov 19 - 23, 18 (wk 47)

Earnings confirmed to report this week

Monday (Nov 19) 

• Morning: JD SPB
• Afternoon: A BECN BRKS GH INTU JACK KLIC LB NUAN PSTG URBN

Tuesday (Nov 20)

• Morning: ADI BBY BKS CPB DY HRL JEC KSS LOW MDT MMS NJR PDD ROST SFL TGT TJX
• Afternoon: ADSK BILI BJ CAL CPRT ESL FL GPS KEYS QADA SE

Wednesday (Nov 21)

• Morning: BZUN CMCM DAKT DE QD
• Afternoon: None

Thursday (Nov 22)

• Markets closed for Thanksgiving

Friday (Nov 23)

• None

=Foot Locker (FL) reported earnings on Fri 25 May 18 (b/o)

Foot Locker beats by $0.21, beats on revs
Reports Q1 (Apr) earnings of $1.45 per share, $0.21 better than the Capital IQ Consensus of $1.24; revenues rose 1.2% year/year to $2.02 bln vs the $1.96 bln Capital IQ Consensus.

• First Quarter Comparable-Store Sales decreased 2.8%

=Foot Locker (FL) reported earnings on Fri 2 March 2018 (b/o)

Foot Locker beats by $0.01, reports revs in-line 

• Reports Q4 (Jan) earnings of $1.26 per share, $0.01 better than the Capital IQ Consensus of $1.25. With the benefit of the extra week, total fourth quarter sales +4.6 percent, to $2,210 mln vs $2.23 bln consensus. Excluding the effect of foreign exchange rate fluctuations, total sales for the quarter increased 2.0 percent.
  • Fourth quarter comparable-store sales decreased 3.7 percent
  • On a 14-week basis, the Company's gross margin rate decreased to 31.4 percent from 33.7 percent a year ago, reflecting the continuation of a highly promotional marketplace environment
• The Company currently expects a flat to up low single-digit comparable-store sales performance for fiscal 2018 and gross margins to begin recovering from 2017's 31.6 percent rate, which fell 2.3 percent from the gross margin rate in fiscal 2016.

Co states, "The first quarter of 2018 will likely see the continuation of sales and margins in line with trends in the second half of 2017. However, we are confident that we will inflect back to positive comparable-store sales by the middle of 2018, with the pace of sales continuing to gradually strengthen in the second half of the year based on the improving depth and variety of premium products we see coming from our key vendors. We also expect a double-digit percentage increase in annual earnings per share, with an effective tax rate in the 27 to 28 percent range and a lower share count both contributing to this performance."

• Consensus for FY 18 EPS was $4.54 (+13%)

Foot Locker (FL) reported earnings on Fri 17 Nov 17 (b/o)

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** charts after earnings **

Foot Locker beats by $0.07, beats on revs; Q3 comps -3.7% 

• Reports Q3 (Oct) earnings of $0.87 per share, excluding non-recurring items, $0.07 better thanthe Capital IQ Consensus of $0.80; revenues fell 0.8% year/year to $1.87 bln vs the $1.82 bln Capital IQ Consensus.
• Third quarter comparable-store sales decreased 3.7 percent.
• The Company's gross margin rate decreased to 31.0 percent of sales from 33.9 percent a year ago, and the selling, general, and administrative expense rate increased 30 basis points to 19.7 percent of sales.
• During the third quarter, the Company opened 12 new stores, remodeled or relocated 41 stores, and closed 22 stores. 

Foot Locker (FL) reported earnings on Fri 18 August 17 (b/o)

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** the following day **

Foot Locker misses by $0.28, misses on revs with comps well below guidance; sees 2H comps down 3-4%(47.70 )

• Reports Q2 (Jul) earnings of $0.62 per share, excluding non-recurring items, $0.28 worse thanthe Capital IQ Consensus of $0.90; revenues fell 4.4% year/year to $1.7 bln vs the $1.8 bln Capital IQ Consensus. 
• Comps -6% vs. low single digit growth guidance.
• Excluding the effect of foreign currency fluctuations, total sales for the second quarter decreased 4.3 percent. The Company's gross margin rate decreased to 29.6 percent of sales from 33.0 percent a year ago, and the selling, general, and administrative expense rate increased 20 basis points to 19.9 percent of sales. "While we believe our position in the market for premium sneakers remains very strong and our customers continue to look to us for compelling new athletic footwear and apparel styles," said Richard Johnson, Chairman and Chief Executive Officer, "sales of some recent top styles fell well short of our expectations and impacted this quarter's results. At the same time, we were affected by the limited availability of innovative new products in the market. We believe these industry dynamics will persist through 2017, and we expect comparable sales to be down three to four percent over the remainder of the year." Mr. Johnson continued, "We are obviously disappointed in the results for the quarter, and our team is working quickly to adjust our operations to a changed retail landscape in which we are seeing our consumers move faster than ever from one source of inspiration or influence to another. In addition to working with our vendor partners to identify and capture new trends faster, we are also evaluating a realignment of our capital expenditure priorities and additional expense reductions so we can regain our momentum on both the top and bottom lines and deliver long-term value for our shareholders."

Footwear retailers & Amazon

 Footwear retailers drop on the whisper of Nike selling directly on Amazon.

Foot Locker (FL) reported earnings on Fri 19 May 17 (b/o)

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Foot Locker misses by $0.02, reports revs in-line; Q1 Comparable-Store Sales +0.5%:

• Reports Q1 (Apr) earnings of $1.36 per share, $0.02 worse than the Capital IQ Consensus of $1.38, at the low end of guidance for $1.36-1.39; revenues rose 0.7% year/year to $2 bln vs the $2.02 bln Capital IQ Consensus.
  • Q1 Comparable-Store Sales +0.5%
  • March and April Comparable-Store Sales up high-single digits
• The Company's gross margin rate decreased to 34.0% of sales from 35.0% a year ago, and the selling, general, and administrative expense rate increased 30 basis points to 18.5 percent of sales.
• "The first quarter was one of our most profitable quarters ever, but it did fall short of our original expectations," said Richard Johnson, Chairman of the Board and Chief Executive Officer. "The slow start we experienced in February, which we believe was largely due to the delay in income tax refunds, was unfortunately not fully offset by much stronger sales in March and April. Nonetheless, we believe our banners remain at the center of a vibrant sneaker culture. We are confident that our customers have not lost their tremendous appetite for athletic footwear and apparel and that our position in the industry is stronger than ever."

Foot Locker (FL) reported earnings on Fri 24 Feb 17 (b/o)

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Foot Locker beats by $0.05, reports revs in-line; sees mid-single digit comps and double-digit EPS growth this year :

• Reports Q4 (Jan) earnings of $1.37 per share, $0.05 better than the Capital IQ Consensus of $1.32; revenues rose 5.3% year/year to $2.11 bln vs the $2.11 bln Capital IQ Consensus. 
• Q4 comparable-store sales increased 5.0%. Total sales increased 5.3 percent, to $2,113 million this year, compared with sales of $2,007 million for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the fourth quarter increased 6.1 percent. The Company's gross margin rate improved to 33.7 percent of sales from 33.6 percent a year ago, and the selling, general, and administrative expense rate improved 60 basis points to 18.7 percent of sales.
• "Although we currently face a softer sales environment than at this time last year, we are planning for a mid-single digit comparable sales gain and a double-digit earnings per share increase for the full year of 2017." Consensus calls for EPS +9.3% to $5.27/share.