Foot Locker, Inc. (FL) Tops Q2 EPS Expectations; Comps Rose 7%

August 22, 2014 7:01 AM EDT Send to a Friend
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Foot Locker, Inc. (NYSE: FL) reported Q2 adjusted EPS of $0.64, versus the analyst estimate of $0.54. Revenue for the quarter came in at $1.64 billion versus the consensus estimate of $1.57 billion.

Second quarter comparable-store sales increased 7.0 percent.

As of August 2, 2014, the Company's merchandise inventory was $1,335 million, 2.2 percent higher than at the end of the second quarter last year, while the Company's cash, cash equivalents, and short-term investments totaled $957 million and the debt on its balance sheet was $137 million.

"The team at Foot Locker once again achieved record levels of sales and profits in the second quarter, and I am extremely proud of their efforts," said Ken C. Hicks, Chairman of the Board and Chief Executive Officer. "We delivered excellent financial and operational results through the outstanding execution of our strategic priorities. This continues to be a winning formula for us, and we remain committed to taking full advantage of the many opportunities we have identified --- over the near, intermediate, and longer terms --- to continue producing a consistent, strong performance."

During the second quarter, the Company repurchased approximately 1.33 million shares of its common stock for $66 million.

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



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