CORRECTION: Foot Locker Sees FY24 Adj. EPS $1.50-$1.70 vs $1.93 Est., Comparable Sales Up 1-3%
Portfolio Pulse from Benzinga Newsdesk
Foot Locker has revised its FY24 adjusted EPS forecast to $1.50-$1.70, down from the estimated $1.93, while expecting comparable sales to increase by 1-3%.
March 06, 2024 | 2:16 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Foot Locker lowers its FY24 adjusted EPS guidance to $1.50-$1.70, below analysts' expectations of $1.93, but anticipates a 1-3% rise in comparable sales.
The downward revision of the EPS forecast for FY24 significantly below the market estimate suggests potential challenges in profitability or operational efficiency, which could negatively impact investor sentiment and stock price in the short term. However, the expected increase in comparable sales indicates some positive business momentum, which might mitigate the negative impact to some extent.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100