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Stock Market & Financial Investment News

News Breaks
May 23, 2014
12:14 EDTHIBB, FINL, FL, DKSFoot 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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April 21, 2015
10:27 EDTFLFoot Locker announces partnership with PENSOLE
Foot Locker announced that they have entered into a collaboration with PENSOLE Footwear Design Academy to invest in the next generation of footwear by fostering innovation and creativity in the classroom. Foot Locker and PENSOLE will partner with ASICS Tiger on their first initiative this summer.
April 15, 2015
08:09 EDTDKSDick's Sporting realistic long-term targets positive, says UBS
UBS said the new realistic long-term targets set by Dick's Sporting are a positive, as they set the foundation for a favorable earnings revision cycle. UBS reiterated its Buy rating and $67 price target on Dick's Sporting shares.
April 14, 2015
10:10 EDTFINLRunning Specialty Group enters exclusive agreement with PEAR Sports
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07:37 EDTDKSDick's Sporting backs FY15 EPS $3.10-$3.20, consensus $3.20
The company's earnings per share guidance includes the expectation of approximately $100M-200M of share repurchases in 2015. Consolidated SSS are currently expected to increase 1 to 3% in fiscal 2015.
07:36 EDTDKSDick's Sporting backs Q1 EPS 49c-53c, consensus 53c
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07:36 EDTDKSDick's Sporting expects to invest $850M in net CapEx over next three years
DICK'S Sporting Goods also reaffirmed its capital allocation strategy to provide returns to shareholders through investing in the business, repurchasing shares and paying dividends. To drive the growth of the business the company expects to invest approximately $850M in net capital expenditures over the next three years, primarily in new stores, store remodels and eCommerce. With its $1B 5-year share repurchase authorization, the company targets share repurchases of $100 to 200 million annually. The company is also committed to quarterly dividends.
07:35 EDTDKSDick's Sporting expects to open 9 Specialty Concept stores in 2015
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07:34 EDTDKSDick's Sporting plans to have ecommerce site on own platform in January 2017
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07:34 EDTDKSDick's Sporting sees significant opportunity to increase market share in US
The company sees significant opportunity to increase market share in the U.S. through growing its DICK'S Sporting Goods store base in new and underpenetrated markets and increasing its eCommerce sales. Stores continue to be a very profitable growth vehicle that deliver strong new store productivity, accelerate eCommerce growth, build brand equity and customer loyalty, and reinforce the strength of the Company's vendor partnerships. The company is taking a measured approach to growing its store count and anticipates growing its DICK'S Sporting Goods store base to approximately 735 to 750 stores by the end of fiscal 2017, an increase of approximately 135 to 150 stores from the 603 stores at the end of fiscal 2014. The company plans to grow eCommerce sales to approximately $1B-1.2B in fiscal 2017, from $628 million in fiscal 2014.
07:32 EDTDKSDick's Sporting sees FY17 revenue $8.7B-$9B, 3-year EPS CAGR of 12%-16%
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April 13, 2015
08:32 EDTDKSUnder Armour rises after Spieth brings attention to golf gear
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April 11, 2015
14:02 EDTDKSDick's Sporting to host analyst meeting
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