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Foot Locker (FL) Beats Q4 Earnings Estimates, Stock Gains

Foot Locker, Inc.FL , the operator of athletic shoes and apparel retailer, came out with fourth-quarter fiscal 20Array5 results, wherein adjusted earnings of $Array.Array6 per share came ahead of the Zacks Consensus Estimate of $Array.Array2, and jumped Array6% year over year.

Earnings Estimate Revision: The Zacks Consensus Estimate for fiscal 20Array6 has moved up by a penny over the past 7 days. In the trailing four quarters (including the quarter under review), the company has outperformed the Zacks Consensus Estimate by an average of 9.4%.

Revenues: Foot Locker generated total revenue of $2.0Array billion that increased 5% year over year, and came almost in line with the Zacks Consensus Estimate $2 billion. Comparable-store sales jumped 7.9% during the quarter.

Key Events: During fiscal 20Array5, Foot Locker opened ArrayArrayArray new outlets, remodeled or relocated 209 outlets, and shuttered Array5Array outlets. As of Jan 30, 20Array6, the company operated 3,383 outlets. During the quarter under review, the company repurchased Array.64 million shares of worth $Array03 million.

The company's board of directors approved a $297 million capital expenditure plan for fiscal 20Array6 and increased the quarterly dividend by Array0% to 27.5 cents, which will be paid on Apr 29, 20Array6 to stockholders on record as of Apr Array5, 20Array6.

Zacks Rank: Currently, Foot Locker carries a Zacks Rank #2 (Buy), which is subject to change following the earnings announcement.

Stock Movement: Foot Locker's shares are up nearly 4.4% during pre-market trading hours following the earnings release.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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