New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For FINL;M From The Last 14 Days
Check below for free stories on FINL;M the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
August 22, 2014
10:48 EDTFINLFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported second quarter earnings which exceeded analysts' expectations. WHAT'S NEW: Foot Locker reported Q2 adjusted earnings per share of 64c, which surpassed analysts' consensus of 54c. The company's Q2 revenue was $1.64B, which was higher than analysts' consensus of$1.57B. Foot Locker's same-store-sales increased 7% and its gross margin rate was up 32% for the quarter. WHAT'S NOTABLE: During the company's conference call, Foot Locker said third quarter comparable sales are positioned to experience mid-single digit gains. The company noted that it is making "good progress" on maintaining a "solid" flow of inventory and its inventory overall is well-positioned for the upcoming back-to-school and fall seasons. Foot Locker is still on-track to close just over 100 stores this year, but some closures are expected to happen at the beginning of FY15. The retailer is projecting to open 80 stores this year mostly in Europe and Kids Foot Locker, which is an increase from the company's initial projection of opening 60 stores. A high-single digit comparable sales gain has been experienced by the company so far in August. It anticipates a SG&A improvement of 30-40 basis points and gross margins to be up 20-40 basis points in Q3. ANALYST OPINION: Two days ago, Canaccord said that they were positive on Foot Locker prior to Q2 earnings results since they foresaw the results to be "solid." The firm felt that the retailer was "well-positioned" to still benefit from its target of expanding toward casual athletic footwear. The firm maintained a $56 price target on Foot Locker with a Buy rating. Yesterday, UBS increased its price target on Foot Locker to $58 from $54 right before the retailer announced its Q2 results. The firm anticipated higher than expected earnings, positive SSS trends and the potential for increased guidance and valuation. UBS kept Foot Locker with a Buy rating. OTHERS TO WATCH: Foot Locker competitor Finish Line (FINL) is scheduled to report its Q2 quarter earnings on September 25. PRICE ACTION: During morning trading, Foot Locker shares rose $1.60 or just over 3%, to $54.17, and Finish Line shares rose 19c, or 0.65%, to $29.62.
August 21, 2014
10:35 EDTMSears falls after reporting Q2 loss that more than doubled analyst projections
Subscribe for More Information
August 20, 2014
08:31 EDTMMacy's reaches agreement with NY AG on racial profiling allegations
Subscribe for More Information
August 17, 2014
18:10 EDTMInvestors should buy Nordstrom over Macy's, Barron's says
Subscribe for More Information
August 15, 2014
17:02 EDTMStocks end week slightly higher despite flare-up in Russian tensions
Subscribe for More Information
10:30 EDTMJ.C. Penney falls despite posting a narrower than expected Q2 loss
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use