Foot Locker Q3 Adjusted EPS $0.30 Beats $0.25 Estimate, Sales $1.99B Beat $1.97B Estimate
Portfolio Pulse from Benzinga Newsdesk
Foot Locker reported Q3 adjusted EPS of $0.30, surpassing the $0.25 estimate, and sales of $1.99B, slightly above the $1.97B estimate. However, these figures represent a significant decrease from the same period last year, with earnings down 76.38% and sales down 8.47%.
November 29, 2023 | 11:46 am
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Foot Locker's Q3 earnings exceeded expectations, but showed a substantial decline from the previous year's results, indicating potential challenges ahead.
While Foot Locker beat estimates, the significant drop in earnings and sales compared to last year may concern investors about the company's growth trajectory and market conditions. The mixed results could lead to neutral short-term stock price movement as positive earnings surprises are offset by year-over-year declines.
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