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Stock Market & Financial Investment News

News Breaks
May 23, 2014
12:14 EDTFINL, FL, DKS, HIBBFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported first quarter earnings which surpassed analyst's consensus expectation. WHAT'S NEW: Foot Locker reported first quarter adjusted earnings per share of $1.11, which beat a consensus forecast of $1.06. The company reported first quarter revenue of $1.87B, which also exceeded the $1.79B consensus view. Foot Locker said that comparable store sales rose 7.6% in the first quarter. WHAT'S NOTABLE: During the company's earnings conference call, Foot Locker reiterated a "strong" outlook for the remainder of FY14. The company said that its comparable store sales as of yesterday were up mid-single digits in May, adding that it still sees quarter comps up mid-single digits. Weather in Europe during the first quarter proved to be warmer compared to the prior year, which the company noted had a positive influence on its running business, but a negative impact on its fleece business. The retailer's women's business has had a positive low-digit comp so far this month and overall, it sees its running division to have "strong and powerful" sales going into the summer and the back-to-school seasons. ANALYST OPINION: Three days ago, Sterne Agee recommended purchasing Hibbett Sports (HIBB) and Foot Locker on weakness linked to Dicks Sporting Goods' (DKS) latest quarterly results. Hibbett Sports reported on its first quarter results today as well, turning in EPS of $1.09 that matched analyst's expectation on revenue that was slightly lower than the consensus forecast. The company noted that its quarter sales to-date so far have been slow due to a shift in shoe launches, but added that a "pretty good-sized launch" is scheduled for tomorrow and that management is "very positive" that the company will have a "good second quarter." OTHERS TO WATCH: Another rival to Foot Locker that also sells running shoes and sports apparel, Finish Line (FINL), has yet to report its first quarter earnings. Analysts are projecting EPS of 21c and revenue of $394.18M. Last quarter, Finish Line said that it saw its first quarter earnings per share flat to up slightly versus last year and that it saw its March-April comps to be up in the mid-single digit range. PRICE ACTION: During late-morning trading, Foot Locker shares rose 61c or 1.27%, to $48.78. Hibbett Sports decreased 6% to $53.66, and Finish Line rose 1.4% to $29.21.
News For FL;HIBB;DKS;FINL From The Last 14 Days
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September 2, 2015
06:22 EDTDKSNew Balance to enter 'athleisure' sector, Business Insider reports
New Balance is launching a new "athleisure" line and is planning to mail a catalog to more than 1M U.S. women, Business Insider reports, citing comments from Norma Delaney, head of global marketing for NB Women. The line will compete with offerings from Lululemon (LULU), Under Armour (UA), Victoria's Secret (LB) and Dick's Sporting Goods (DKS). Reference Link
August 24, 2015
08:03 EDTFLFoot Locker price target raised to $83 from $72 at Baird
Baird raised its price target on Foot Locker to $83 from $72 and said the tough tape provides a good buying opportunity. The firm believes the company's raised guidance could be conservative, citing its recent comps momentum and reasonable valuation. Baird reiterated its Outperform rating on Foot Locker shares.
07:46 EDTFLFoot Locker under-earning businesses key to margins, says UBS
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August 21, 2015
14:57 EDTFLFoot Locker buy aggressively on market weakness, says Jefferies
Jefferies recommends buying Foot Locker aggressively on the market selloff. The firm expects upward revisions to earnings estimates and said strong cash flow power, disciplined capital allocation , and ongoing shareholder returns will support shares. Jefferies raised its price target on Foot Locker shares to $82 from $72 and reiterates its Buy rating.
10:32 EDTDKSOptions with decreasing implied volatility
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09:41 EDTFLFoot Locker says core business 'strong'
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09:18 EDTFLFoot Locker says double digit EPS gains in Q3, Q4 'achievable'
Says forex negatively impacted margin by 20bps in Q2. Says overall traffic up "slightly" in Q2, international traffic was better than U.S. traffic. Says continuing to plan business "cautiously" for 2H. Says mid single digit comps remains "our mantra." Says with late start of back to school this year, believes there is a "good chance" for sales to be at strong end of mid single digits, both this quarter and in 2H. Says SSS month to date up mid single digits. Says double digit EPS gains in Q3, Q4 are "achievable" based on current sales trends. Comments made on the Q2 earnings conference call.
07:02 EDTFLFoot Locker opened 21 new stores in Q2
During the second quarter, the company opened 21 new stores, remodeled or relocated 65 stores, and closed 21 stores. As of August 1, 2015, the Company operated 3,419 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 48 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 27 franchised Runners Point and Sidestep stores in Germany and Switzerland.
07:01 EDTFLFoot Locker reports Q2 gross margin rate of 32.6%
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07:01 EDTFLFoot Locker reports Q2 comparable store sales up 9.6%
07:00 EDTFLFoot Locker reports Q2 EPS 84c, consensus 69c
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06:35 EDTHIBBHibbett Sports cuts FY16 EPS to $2.80-$2.90 from $2.95-$3.04, consensus $2.87
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06:34 EDTHIBBHibbett Sports reports 16 new store openings in Q2
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06:34 EDTHIBBHibbett Sports reports Q2 EPS 28c, consensus 28c
Reports Q2 revenue $199.3M, consensus $208.78M. Reports Q2 comparable store sales down 1.1%.

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