Foot Locker, Inc. (NYSE:FL) plans to report financial results for its first quarter ended May 3, 2014 before the U.S. markets open on Friday, May 23, 2014. A conference call is scheduled for the same day at 9:00 a.m. EDT, during which the Company will discuss these results. The Company will comment on the status of its current initiatives, and discuss trends in its business and the athletic industry.
Wall Street anticipates that the specialty retailer will earn $1.06 per share for the quarter, which is $0.15 more than last year's profit of $0.91 per share. iStock expects FL to top Wall Street's consensus number, the iEstimate is $1.07.
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Sales, like earnings, are expected move ahead, jumping forward by 9.3% year-over-year (YoY). Foot Locker's consensus revenue estimate for Q4 is $1.79 billion, which is more than last year's $1.64 billion.
Foot Locker operates as a retailer of athletic footwear and apparel. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, and SIX:02, as well as Runners Point, Sidestep, and Run2. As of February 1, 2014, it operated 3,473 primarily mall-based stores in the United States, Canada, Europe, Australia, and New Zealand.
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The Direct-to-Customers segment sell athletic footwear, apparel, equipment, team licensed products, private-label merchandise, and accessories through Internet Websites, catalogs, and mobile devices.
A few analysts feel good about Foot Locker heading into the announcement. Sterne Agee says Dicks's Sporting Goods saw strength in athletic apparel for women and kids along with footwear and team sports i.e. FL's wheelhouse.
Meanwhile, UBS says Foot Locker is going to earn $1.07 and sees same-store-sales increasing by 6% thanks to basketball sales, Nike prices increases, and improving European trends.
Running past Wall Street's consensus EPS estimate has been an easy exercise for Foot Locker. The athletic apparel and footwear seller has topped the street's outlook 12 of the last 16 quarters by an average of $0.075 more than expected. Thrice, earnings were lighter than forecasted, missing by -$0.02, -$0.03, and -$0.08. That leaves one on-target result.
While bullish surprises have dominated, EPS-driven price-sensitivity was more evenly mixed. Investors bought the news nine of the last 16 quarters with an average gain of 5.92%. Meanwhile, sellers took charge in the days surrounding an unlucky seven quarterly checkups, shaving off an average of -6.5%.
Overall: Foot Locker, Inc.'s (NYSE:FL) history, the iEstimate, and the general sense among brokers suggest FL will post another bullish surprise. The most recent 10-K show that costs and expenses are in-line with sales growth, so margins should remain healthy.
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