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Foot Locker Q3 Adj. Profit Declines, Comps Up 0.8%; Raises 2022 EPS Guidance

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(RTTNews) – Foot Locker, Inc. (FL) reported third quarter non-GAAP net income of $1.27 per share, compared with $1.74, a year ago. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.11, for the quarter. Analysts’ estimates typically exclude special items.

Net income was $96 million, or $1.01 per share, compared with $158 million, or $1.52 per share, prior-year.

Total sales decreased by 0.7%, to $2.17 billion. Excluding the effect of foreign exchange rate fluctuations, total sales increased by 3.3%. Third quarter comparable-store sales increased by 0.8%. Analysts on average had estimated $2.09 billion in revenue.

The company increased 2022 non GAAP EPS guidance to $4.42-$4.50, from prior range of $4.25-$4.45. Comp sales are projected to be down 4% to 5%, revised from prior outlook of down 8% to 9%.

The company expects fourth quarter non GAAP EPS in a range of $0.45-$0.53. Comp sales are projected to be down 6% to 8%.

Shares of Foot Locker are up 23% in pre-market trade on Friday.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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