Yahoo Finance’s Brian Sozzi, Alexis Christoforous, and Jared Blikre break down Deere & Co. and Foot Locker earnings.
Foot Locker faces a number of challenges in the wake of the coronavirus pandemic, including a focus on shoes and store locations in malls, analysts say.
Sales at stores open at least a year fell 42.8% in the quarter. Management suspended the dividend as it seeks to conserve cash.
The weekly 5/22 27-strike put is running the show today
The latest in a growing set of examples is athletic apparel and sneaker specialist Foot Locker (NYSE: FL), the stock price of which dived after the company posted its Q1 fiscal 2020 results on Friday. For the quarter, Foot Locker's sales came in at just under $1.18 billion, down a steep 43% from the same period last year. Although Foot Locker has been reopening stores as permitted lately, the shutdowns engendered by the SARS-CoV-2 coronavirus outbreak badly affected the company.
Foot Locker stock is sharply down on Friday on worse-than-expected earnings. Here's how to trade the stock as it approaches potential support.
Disappointing first-quarter results are hitting the stock price, but Foot Locker's long-term story remains intact.
Mainland China appears to be turning toward Hong Kong's economic prowess to help the country recover from the lockdown measures that took a hammer to China's GDP over the past several months.
Good morning, ladies and gentlemen, and welcome to Foot Locker's First Quarter 2020 Financial Results Conference Call. This conference may contain forward-looking statements that reflect management's current views of future events and financial performance. Management undertakes no obligation to update these forward-looking statements, which are based on many assumptions and factors, including the impact of COVID-19, effects of currency fluctuations, customer preferences, economic and market conditions worldwide, and other risks and uncertainties described more fully in the company's press release and in reports filed with the SEC, including the most recently filed Form 10-K and Form 10-Q. Any changes in such assumptions or factors could produce significantly different results and actual results may differ materially from those contained in the forward-looking statements.
More than 1,400 of the retailer's stores are now back in business.
Dividend announcements were mixed this past week for large companies, reflecting the divergent capital-allocation policies as companies try to preserve their cash during the coronavirus pandemic.
Not only was Best Buy a stronger company heading into the crisis, but its relative strength over Foot Locker is also only likely to accelerate in the months and years ahead. Both companies reported their first-quarter results last week, illustrating the key differences in their business models, sensitivity to stay-at-home orders, and giving a sneak peak into why Best Buy is the more solid pick of the two. During the May quarter, in which Best Buy, Foot Locker, and other retailers were forced to shut their doors to customers, Best Buy's business resilience was clearly on display.
Foot Locker (FL) posts wider-than-expected loss per share in first-quarter fiscal 2020.
Foot Locker (FL) delivered earnings and revenue surprises of -294.12% and -10.59%, respectively, for the quarter ended April 2020. Do the numbers hold clues to what lies ahead for the stock?
Q1 2020 Foot Locker Inc Earnings Call
Deere, Foot Locker and Nvidia post quarterly financial results Continue reading...
Foot Locker reported a bigger-than-expected first-quarter loss and revenue decline amid coronavirus shutdowns.
The U.S. death toll from the coronavirus that causes COVID-19 edged closer to 100,000 on Friday, as the news emerged that the Centers for Disease Control and Prevention has been combining the results of two different types of tests for the illness in a move that has been sharply criticized by health experts.
Analysts break it down.
Shares of Crocs (NASDAQ: CROX), Coty (NYSE: COTY), and Foot Locker (NYSE: FL), an assortment of retailers, jumped 10% or higher Tuesday morning as the markets received positive news about consumer sentiment and COVID-19 vaccines. Retailers got a little spark of hope Tuesday when U.S. consumer confidence moved slightly higher in May, suggesting the worst of the economic impact could be behind us as more states open up parts of the economy and reduce restrictions. Consumer confidence moved to 86.6 in May, up from the downwardly revised 85.7 recorded in April.