MW Foot Locker's stock gains as a profit beat is enough to offset a downbeat outlook
Shares of Foot Locker Inc. climbed 2.9% in premarket trading Wednesday, after the athletic footwear retailer beat fiscal fourth-quarter profit expectations by a wide margin and continued to see comparable sales growth, which was enough to offset a downbeat full-year outlook.
Adjusted earnings per share for the quarter to Feb. 1 more than doubled, to 86 cents from 38 cents in the same period a year ago, and topped the FactSet consensus of 72 cents. And comparable sales rose 2.6% to beat forecasts for a 2.3% rise.
For the current full fiscal year, the company expects adjusted EPS of $1.35 to $1.65, below the FactSet consensus of $1.72. Total sales are expected to be down 1% to up 0.5% from last year, while the current FactSet sales consensus of $8.23 billion implies 3% growth.
This is breaking news. Check back for updates.
-Tomi Kilgore
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
March 05, 2025 06:57 ET (11:57 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.