Foot Locker earnings for the fourth quarter of 2018 have FL stock heading higher on Friday.
Foot Locker (NYSE:FL) reported earnings per share of $1.56 for the fourth quarter of the year. This is an increase over the company’s earnings per share of $1.26 from the same period of the year prior. It was also a boon to FL stock by coming in above Wall Street’s earnings per share estimate of $1.40 for the quarter.
The Foot Locker earnings report for the fourth quarter of 2018 also includes net income of $158 million. This is better than the company’s net loss of $49 million reported in the fourth quarter of 2017.
Foot Locker earnings for the fourth quarter of the year have operating income coming in at $219 million. The retailer of athletic wear reported operating income of $76 million during the same time last year.
Revenue reported in the Foot Locker earnings release for the fourth quarter of 2018 comes in at $2.27 billion. This is up from the company’s revenue of $2.21 billion reported in the fourth quarter of the previous year. This was also good news for FL stock by beating out analysts’ revenue estimate of $2.19 billion for the period.
“Looking at 2019, we believe that by maintaining our focus on bringing differentiated experiences to youth culture, we can continue to elevate our financial performance by generating a mid-single digit comparable sales gain and another double-digit percentage increase in earnings per share,” Richard Johnson, Chairman and CEO of Foot Locker, said in a statement.
FL stock was up 5% as of Friday morning.
As of this writing, William White did not hold a position in any of the aforementioned securities.