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Stock Market & Financial Investment News

News Breaks
March 7, 2014
09:38 EDTFLFoot Locker says SSS up low double digits so far in Q1
Planning for a mid single digit SSS gain for FY14, including a mid single digit SSS gain in each quarter. Targeting FY14 capital program of $220M. Anticipating about 60 new stores and will likely close about 100. Expects to continue remodeling programs in Foot Locker and Champs stores. Says has a solid strategy for women's business to bring it up to the productivity of the other businesses. On the gross margin front, the company expects to experience some ongoing initial markup pressure but believes it can continue to improve markdown rates. Sees interest expense flat with last year at around $5M. Expecting a 36.5% effective tax rate down from prior expectation of 37%. Comments made during the company's Q4 earnings conference call.
News For FL From The Last 14 Days
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February 5, 2016
08:26 EDTFLFoot Locker coverage assumed with a Neutral at Credit Suisse
Target $70.
January 26, 2016
06:30 EDTFLFoot Locker added to US 1 List at BofA/Merrill
BofA/Merrill added Foot Locker (FL) to the US 1 List and said Nike's (NKE) innovation in casual athletic should support solid comps. Additionally, Foot Locker will likely receive favorable allocations from Nike given Under Armour's focus and momentum in the mall channel.

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