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How Foot Locker’s Investments in Youth Culture Are Paying Off for the Brand

Shares for Foot Locker shot up 13.5 percent to $67.62 at market open following the release of fourth-quarter earnings results that soared past Wall Street expectations.
The retailer’s stronger-than-expected growth was led by same-store sales, which increased 9.7 percent — more than double the number analysts’ had predicted. It also reported profits of $158 million, or $1.39 per share, for the three months ending Feb. 2.
On an adjusted basis, Foot Locker earned $1.56 per share, a 37 percent gain from the same time last year and well ahead of the $1.40 forecast. Total sales for the period rose 2.8 percent to $2.27 billion, handily topping analysts’ bets for sales of $2.19 billion.
“The fundamentals of our core business remain strong and led to meaningful improvement in our financial results, not only during the fourth quarter but throughout 2018,” said chairman and CEO Richard Johnson. “This positive performance was made possible by our team’s unrelenting focus on providing compelling assortments to our customers, launching exciting collaborations with our strategic partners, both long-standing and new, and making our stores and digital channels unique and exciting destinations.”
For 2018, Foot Locker saw revenues that hit $7.94 billion — a gain of 2 percent from the previous year

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Via:: https://footwearnews.com/2019/business/earnings/foot-locker-q4-2018-earnings-shares-1202754450/