Foot Locker (FL) Tops Q4 EPS by 4c; Comps up 7.9%
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Operating Leverage and Growth Drive Foot Locker (FL) to 4Q EPS Beat - Brean Capital Reiterates Buy
February 29, 2016 10:23 AM ESTBrean Capital reiterated a Buy rating on Foot Locker (NYSE: FL), and raised the price target to $78.00 (from $77.00), following the company's 4Q earnings report. FL reported EPS of $1.16 favorable to consensus estimates of $1.12, driven by operating leverage on strong comp growth of 7.9%, as well as continued growth in merchandise margin expansion.
Analyst Eric Tracy commented, "As we expected, FL delivered 4Q upside against high... More
Foot Locker (FL) 4Q Better Than Outlook Implies - PiperJaffray
February 29, 2016 6:56 AM ESTPiper Jaffray analyst, Erinn Murphy cut projected 1Q EPS on Foot Locker (NYSE: FL) to $1.41 (vs. $1.45 prior) to reflect incremental spend from the headquarter relocation during the quarter. However, full year is unchanged at $4.75 as strength in the underlying business offsets higher than expected one time costs.
Adjusted EPS was $1.16 vs. the Street's $1.12. Comp-store sales were up 7.9%, which compares to the Street's published 5.9% gain. Total sales growth of 5% included a 380bps FX headwind; constant-currency sales growth was up 8.8%. Inventory was up... More
