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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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July 30, 2015
17:24 EDTFLFoot Locker appoints Verma as Chief Information Officer
Foot Locker (FL) announced the appointment of Pawan Verma as SVP and Chief Information Officer, effective August 10. Verma succeeds Peter Brown, who retired in April. Verma joins Foot Locker from Target (TGT), most recently serving as VP, Digital and Marketing Technologies and Services Platforms.
July 24, 2015
11:24 EDTFINLFinish Line management to meet with Buckingham
Meetings to be held in Los Angeles on July 27 and in San Francisco on July 28 hosted by Buckingham.
July 22, 2015
07:04 EDTFLFoot Locker price target raised to $77 from $67 at UBS
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