Foot Locker (FL) Tops Q2 EPS by 4c; GM Widened 4 bps

August 19, 2016 6:49 AM EDT
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Foot Locker (NYSE: FL) reported Q2 EPS of $0.94, $0.04 better than the analyst estimate of $0.90. Revenue for the quarter came in at $1.78 billion versus the consensus estimate of $1.76 billion.

Second quarter comparable-store sales increased 4.7 percent.

The Company's gross margin rate improved to 33.0 percent of sales from 32.6 percent a year ago, while the selling, general, and administrative expense rate increased to 19.7 percent of sales from 19.5 percent.

At July 30, 2016, the Company's merchandise inventories were $1,339 million, 1.7 percent higher than at the end of the second quarter last year. Using constant currencies, inventory increased 1.9 percent.

The Company's cash totaled $945 million, while the debt on its balance sheet was $129 million. The Company spent approximately $188 million to repurchase 3.35 million shares during the quarter and paid a quarterly dividend of $0.275, spending $37 million.

For earnings history and earnings-related data on Foot Locker (FL) click here.

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