Foot Locker Pre-Announces Strong Q2 Sales, Earnings
Comp store sales jumped 18% for the second quarter ended Aug. 1 and net income will be $0.38-42 per share ($41.7 mm) including charges of $19 million related to shutting down the Runners Point chain in Europe and another $18 million in costs related to social unrest following the George Floyd killing. Excluding those charges, net would have been $0.66-70 per share ($70.9 mm) for the period, easily beating the $60 million it reported last year and demolishing the consensus forecast of an adjusted loss of $0.61. The stock jumped 9% on the news.
Big Foot said it saw strong sales ... Log in to view full article.