Foot Locker’s 3Q17 results
Foot Locker (FL) reported its 3Q17 results on November 17, 2017. The results relate to the three-month period ending on October 28, 2017.
The company beat Wall Street analysts’ revenue and earnings expectations. Its EPS (earnings per share) was $0.87—$0.07 more than consensus expectations.
Total sales beat the projections by $44 million and landed at $1.87 billion. Foot Locker beat analysts’ expectations for the first time this year. In the first two quarters of the year, Foot Locker missed revenue and earnings estimates.
Foot Locker stock had one of its best days ever after its 3Q17 results. The stock price rose 28% and closed at $40.80 on November 17. The company’s YTD (year-to-date) losses have been reduced to 42%.
Currently, Foot Locker is trading at a one-year forward PE (price-to-earnings) ratio of 10.4x—compared to its three-year average PE ratio of 13.5x. All of the other specialty athletic retailers and sportswear players have higher ratios than Foot Locker.
With a market capitalization of $5.06 billion as of November 17, 2017, Foot Locker weights 1.55% in the iShares Edge MSCI Multifactor Consumer Discretionary ETF (CNDF).
In this series
In this series, we’ll discuss Foot Locker’s 3Q17 results. We’ll look at the company’s financial performance during the quarter, its stock market performance, and recent rating actions.