Foot Locker's Q1 earnings report has exceeded expectations, driven by disciplined expense management and a strategic turnaround plan under CEO Mary Dillon. The company reported an adjusted EPS of $0.22, surpassing the estimated $0.13, while revenue fell slightly short at $1.87 billion compared to the expected $1.89 billion, marking a 2.8% year-over-year decline. Despite the revenue shortfall, Foot Locker shares surged by 28% in pre-market trading, the highest jump since November 2017, as investors reacted positively to the profit beat and reaffirmed upbeat guidance. Comparable sales were down 1.8%, and inventory levels decreased by 5.6% year-over-year to $1.7 billion. The company also highlighted upcoming innovations and a return to growth with Nike later this year. Additionally, Foot Locker shares rose by 12.3% in pre-market trading, and the company is optimistic about fresh assortments poised for a summer and back-to-school boost.
Foot Locker saw sales fall nearly 3% in Q1 and teased a return to growth with #Nike later this year and expressed excitement about upcoming innovation. #FootLocker https://t.co/MUiCdyb7wM
Foot Locker shares surge as Q1 earnings point to a step in the right direction https://t.co/TCXqwR4OJL by @BrookeDiPalma
LISTEN NOW: Foot Locker posted better-than-expected comparable sales as CEO Mary Dillon’s turnaround plan shows signs of success. Listen and follow the @SquawkCNBC podcast here: https://t.co/gZaa8fjg8c https://t.co/3t8bd4HypG
🇺🇸 Foot Locker stock surges 30% as turnaround shows signs of life https://t.co/Jlr1662hJ4
Foot Locker CEO Mary Dillon joined @SquawkCNBC Thursday to discuss the company’s quarterly earnings results, the state of the company’s turnaround plan, strength of the consumer, and more. https://t.co/e635ecDTDh https://t.co/gx4YQiw7qX
Foot Locker shares pop in premarket as Q1 earnings point to a step in the right direction https://t.co/3ts9rspBb3 by @BrookeDiPalma
$FL | Foot Locker's Q1 Earning Report: Revenue $1.874B 📉, EPS $0.09 📉. Fresh assortments poised for summer and back-to-school boost! $NKE $BIRK 👉 Financial Performance: ➡️ Total Revenue: $1.874 billion, down 2.8% year over year. ➡️ Comparable Sales: down 1.8%. ➡️ Adjusted… https://t.co/BGxg4fvKCM
This is a shoe-perb bit of news for the bulls... *FOOT LOCKER SHARES JUMP 28%, MOST SINCE NOVEMBER 2017
Foot Locker $FL gains as disciplined expense management fuels earnings beat https://t.co/PKUnOX0xye https://t.co/nGOyfYq7Wn
Foot Locker shares pop in pre-market, as Q1 earnings point to a step in the right direction https://t.co/avF7DNns7a by @BrookeDiPalma
$FL (+12.3% pre) Foot Locker rallies as Q1 profit beats street view, upbeat guidance reaffirmed - SA https://t.co/O1UxwXX0gd
Foot Locker Stock Pops as Earnings Top Estimates https://t.co/Vui7KzSwKG
$FL | Foot Locker Q1'24 Earnings Highlights 🔹 Adj EPS: $0.22 (Est. $0.13) 🟢 🔹 Revenue: $1.87B (Est. $1.89B) 🔴; DOWN -2.8% YoY Key Financial Metrics 🔹 Inventory: $1.7B; DOWN -5.6% YoY 🟢 🔹 Comparable Sales: DOWN -1.8% 🔹 Global Foot Locker and Kids Foot Locker Comparable…
Foot Locker’s stock sprints higher after profit beats expectations by wide margin, while revenue fell a by short https://t.co/665fwA6oJe
Foot Locker earnings surpass expectations as the sneaker retailer tries to get back on pace with its turnaround plan https://t.co/p6Htb0nAeE
Foot Locker's turnaround is showing signs of life, CEO sees consumers willing to pay full price https://t.co/G4DpBfYKsk
Foot Locker Q1 earnings preview: Continued decline expected while the company attempts a turnaround https://t.co/M1iGMLL3hz by @BrookeDiPalma