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Stock Market & Financial Investment News

News Breaks
March 7, 2014
10:45 EDTFINL, FLFoot Locker rises after quarterly earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are rising after the company reported fourth quarter earnings that beat the consensus estimate. WHAT'S NEW: Foot Locker reported fourth quarter adjusted earnings per share of 82c, which beat analysts' consensus expectation of 76c. The company reported fourth quarter revenue of $1.79B which beat the consensus estimate of $1.76B. Foot Locker also reported comparable store sales in the fourth quarter rose 5.3%. WHAT'S NOTABLE: During the company's earnings conference call, Foot Locker said comparable stores sales are up low double digits so far in the first quarter. Foot Locker is planning for a mid single digit same-store sales gain for FY14, including a mid single digit same-store gain in each quarter. The company expects its earnings per share to grow by a double-digit percentage during FY14, it added. The company says it has $371M left on its share repurchase program and says it was "active" in executing it during the end of 2013. Foot Locker expects its share count to continue decreasing as the program is executed. ANALYST OPINION: Following the company's report, analysts at Deutsche Bank raised their price target on Foot Locker shares to $48 from $45. Deutsche Bank noted the company's FY14 guidance was in-line with Street expectations, unlike most retailers, and the firm reiterated its Buy rating on the stock. PRICE ACTION: During mid-morning trading, shares of Foot Locker rose $2.70, or 6.32%, to $45.43. ANOTHER TO WATCH: Shares of another footwear retailer, Finish Line (FL), were up 2.8% to $28.29 in mid-morning trading.
News For FL;FINL From The Last 14 Days
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May 22, 2015
14:33 EDTFLFoot Locker reiterated as an Underperform following Q1 report at BofA/Merrill
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10:41 EDTFLFoot Locker nearing unchanged after trading higher post-earnings
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09:25 EDTFLOn The Fly: Pre-market Movers
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09:19 EDTFLFoot Locker sees mid single-digit SSS gain in Q2
Foot Locker said it has been planning a mid single-digit comp gain in Q2 and that it is off to a "very solid start" with a double-digit month to date comparable sales gain in May. There are some launches coming up that will likely impact that month to date comp rate, the company noted. Q2 being a relatively low sales volume quarter will likely make it the quarter most negatively impacted by the stronger dollar, the company added.
09:17 EDTFLFoot Locker sees double-digit EPS growth in FY15, consensus $3.93
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09:10 EDTFLFoot Locker says March SSS up low double digits, April SSS up mid-single digit
Easter at the beginning of April benefited March sales, which were up low double digits, while April's comp gain was back to mid-single digits, Foot Locker stated on its Q1 earnings conference call.
07:07 EDTFLFoot Locker opened 37 stores and closed 41 stores in Q1
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07:06 EDTFLFoot Locker reports Q1 comparable store sales up 7.8%
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07:06 EDTFLFoot Locker reports Q1 EPS $1.29, consensus $1.23
Reports Q1 revenue $1.92B, consensus $1.91B.
May 21, 2015
15:01 EDTFLNotable companies reporting before tomorrow's open
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12:21 EDTFLFoot Locker volatility elevated into Q1 and outlook
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May 20, 2015
17:48 EDTFLFoot Locker appoints Nicholas DiPaolo as non-executive chairman
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08:42 EDTFLGoldman says to buy Deckers Outdoor, sell Foot Locker
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May 18, 2015
08:48 EDTFLUBS sees multiple sources of upside for Foot Locker
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