Foot Locker Q2 Sales, Earnings Rise

Foot Locker's (NYSE: FL  ) Q2 results showed it pulling a bit ahead in the race. For the quarter, revenue was $1.45 billion, a 6% increase over the $1.37 billion in the same period the previous year. Net income also grew, to $66 million ($0.44 per diluted share) from Q2 2012's figure of $59 million ($0.39).

That most recent EPS figure, however, fell short of analyst estimates of $0.47.

On a year-to-date basis, Foot Locker's top line came in at $3.09 billion, 5% higher than the $2.95 billion in the comparable period in 2012. Net income was $204 million ($1.34 per diluted share) compared with last year's $187 million ($1.21).

In terms of operations, during Q2 2013 the firm opened 24 new stores while remodeling or relocating 89 others. It closed 44 outlets during this time. All told, as of Aug. 3 it operated nearly 3,500 stores located in 23 countries. In addition, there were 45 franchised Foot Locker locations in the Middle East and South Korea, and 24 Runners Point and Sidestep franchised stores.

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9/26/2016 4:02 PM
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Foot Locker CAPS Rating: ***