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Foot Locker (NYSE: FL) 2Q19 Results: Misses Consensus Estimates, Maintains Guidance

Executive Summary

  • Foot Locker 2Q19 revenues were $1.77 billion, down 0.4% year over year and below the consensus estimate of $1.82 billion. The company reported 2Q19 adjusted EPS of $0.66, down 12% from the year-ago period and below the consensus estimate of $0.67.
  • Comparable sales increased 0.8% for the quarter, lower than the consensus estimate of 3.1%.
  • Management affirmed its earnings per share guidance of growth in high-single digits, compared to the consensus estimate of 4.7%. Foot Locker expects SG&A to be up 10 to 30 basis points.

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