Stock Story -
Footwear and apparel retailer Foot Locker (NYSE:FL) will be reporting results tomorrow before the bell. Here’s what to expect.
Foot Locker met analysts’ revenue expectations last quarter, reporting revenues of $1.88 billion, down 2.7% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ earnings estimates and optimistic earnings guidance for the full year.
Is Foot Locker a buy or sell going into earnings? Find out by reading the original article on StockStory, it’s free.
This quarter, analysts are expecting Foot Locker’s revenue to grow 1.2% year on year to $1.89 billion, a reversal from the 9.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.07 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Foot Locker has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Foot Locker’s peers in the apparel and footwear retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Boot Barn (NYSE:BOOT) delivered year-on-year revenue growth of 10.3%, beating analysts’ expectations by 1.6%, and Urban Outfitters (NASDAQ:URBN) reported revenues up 6.3%, topping estimates by 1%. Boot Barn traded up 13.7% following the results while Urban Outfitters was down 9.5%.
Read the full analysis of Boot Barn’s and Urban Outfitters’s results on StockStory.
Investors in the apparel and footwear retail segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Foot Locker is up 17% during the same time and is heading into earnings with an average analyst price target of $28.2 (compared to the current share price of $32.79).
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