Foot Locker Q2 Earnings: Revenue And EPS Beat, Multiple Store Closures, Inventory Falls 10% And More
Portfolio Pulse from Anusuya Lahiri
Foot Locker reported a Q2 adjusted EPS loss of 5 cents, beating expectations, and sales of $1.896 billion, also surpassing estimates. Despite positive sales growth and margin expansion, the stock fell 8.11% premarket due to store closures and a cautious outlook.
August 28, 2024 | 12:03 pm
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NEGATIVE IMPACT
Foot Locker's Q2 results showed a smaller-than-expected EPS loss and better-than-expected revenue. However, the stock fell 8.11% premarket due to multiple store closures and a cautious fiscal outlook.
Despite beating EPS and revenue estimates, Foot Locker's stock fell due to concerns over store closures and a cautious fiscal outlook. The company's guidance reflects promotional pressures, impacting investor sentiment negatively.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100