Foot Locker (NYSE:FL) earnings for the athletic wear retailer’s fourth quarter of 2019 have FL stock taking off on Friday. That’s thanks to its adjusted earnings per share (EPS) of $1.63, which is better than Wall Street’s estimate of $1.58. However, its revenue of $2.22 billion is below analysts’ estimates of $2.24 billion.
Here’s what else is worth mentioning from the most recent Foot Locker earnings report.
- Adjusted EPS comes in 4.49% higher than the $1.56 from the same time last year.
- Revenue for the quarter is down 2.2% from $2.27 billion during the fourth quarter of 2018.
- Operating income of $186 million is a 15.07% drop year-over-year from $219 million.
- The Foot Locker earnings report also includes a net income of $141 million.
- That’s 10.76% lower than its net income of $158 million from the same period of the year prior.
Lauren Peters, executive vice president and CFO of Foot Locker, said this about the FL stock earnings report:
“We took actions during the quarter to manage slower moving items which pressured our gross margin rate more than expected. Importantly, our ongoing disciplined expense management enabled us to better align our variable expenses with the softer sales trends, while continuing to invest in our key strategic imperatives.”
The Foot Locker earnings report doesn’t include a 2020 guidance. Nevertheless, we know what Wall Street is expecting. That includes an adjusted EPS of $5.18 on revenue of $8.2 billion.
FL stock was up as much as 10.73% on Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
