Foot Locker (FL) reported earnings on Fri 17 Nov 17 (b/o)

** charts before earnings **

 

** charts after earnings **

Foot Locker beats by $0.07, beats on revs; Q3 comps -3.7% 

• Reports Q3 (Oct) earnings of $0.87 per share, excluding non-recurring items, $0.07 better thanthe Capital IQ Consensus of $0.80; revenues fell 0.8% year/year to $1.87 bln vs the $1.82 bln Capital IQ Consensus.
• Third quarter comparable-store sales decreased 3.7 percent.
• The Company's gross margin rate decreased to 31.0 percent of sales from 33.9 percent a year ago, and the selling, general, and administrative expense rate increased 30 basis points to 19.7 percent of sales.
• During the third quarter, the Company opened 12 new stores, remodeled or relocated 41 stores, and closed 22 stores.