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Foot Locker (FL) Tops Q3 EPS by 3c

November 21, 2014 7:01 AM EST

Foot Locker (NYSE: FL) reported Q3 EPS of $0.82, $0.03 better than the analyst estimate of $0.79. Revenue for the quarter came in at $1.73 billion versus the consensus estimate of $1.72 billion.

Third quarter comparable-store sales increased 6.9 percent. Total third quarter sales increased 6.7 percent, to $1,731 million this year, compared with sales of $1,622 million for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the third quarter increased 7.7 percent.

The team at Foot Locker has produced another very strong quarter, marking our 19th consecutive quarter of meaningful sales and profit growth," said Ken C. Hicks, Chairman of the Board and Chief Executive Officer. "We are making substantial progress towards our key operational and financial objectives, including net income margin, sales per gross square foot, and return on invested capital. Our banners have strong positions in the athletic marketplace; our financial footing is solid; and we have a depth of talent --- at the store, field, and management levels --- that is second to none."

"The Company is well positioned to build on the momentum the team has created over the last several years," said Dick Johnson, Executive Vice President and Chief Operating Officer. "It will be a tremendous privilege to lead the organization as we leverage our strengths, which include our global scope, our banner differentiation, our omnichannel capabilities, and our people, in pursuit of the exciting opportunities we have identified to grow and improve the business in the near and long term."

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



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