Foot Locker, Inc (NYSE:FL) stock tumbled in the premarket session on Thursday. The company reported a second-quarter adjusted EPS loss of 5 cents, beating the analyst consensus estimate of 7-cent loss. Quarterly sales of $1.896 billion beat the street view of $1.888 billion.
Total sales increased 1.9% year over year. The comparable sales grew by 2.6%, which was led by 5.2% growth in global Foot Locker and Kids Foot Locker comparable sales.
During the quarter, the company opened five new stores and closed 31. It also remodeled or relocated 14 stores and updated 67 stores to current design standards. Inventory decreased 10.0% year over year.
Foot Locker's gross margin increased by 50 basis points, including a 40-basis point drag from the non-recurring FLX Rewards Program charge. Quarterly adjusted net loss was $(4) million, compared with $4 million profit in the corresponding prior-year period.
At quarter-end, the company's cash and cash equivalents totaled $291 million, while total debt was $445 million.
As of August 3, the company operated 2,464 stores in 26 countries in North America, Europe, Asia, Australia, and New Zealand.
In addition, 213 franchised stores were operating in the Middle East and Asia.
CEO Mary Dillon: "The Lace Up Plan is working, as evidenced by our return to positive total and comparable sales growth as well as gross margin expansion in the second quarter. Our top line trends strengthened as we moved through the quarter, including a solid start to Back-to-School."
Outlook: The company reiterated fiscal 2024 adjusted EPS guidance of $1.50-$1.70 versus the $1.54 consensus.
Foot Locker maintained sales change of (1%)-1% in fiscal 2024 year over year, or $8.072 billion—$8.236 billion versus the consensus of $8.130 billion.
Gross Margin guidance stands at 29.5%- 29.7% (prior 29.8%- 30.0%) to reflect promotional pressure in international and WSS.
Foot Locker stock has gained over 77% in the last 12 months.
Price Action: FL stock traded lower by 8.11% to $30.15 premarket at the last check on Wednesday.
周三，Foot Locker, Inc (NYSE:FL)股票在盘前交易中下跌。该公司报告了第二季度调整后的每股收益亏损5美分，超过了分析师的共识预期7美分亏损。季度销售额达到18.96亿美元，超过了街市预期的18.88亿美元。
总销售额同比增长1.9%。富乐客全球和Kids Foot Locker可比销售增长2.6%，其中孩童装销售增长了5.2%。
在这个季度，该公司新开了5家店面，关闭了31家店面。还进行了14家店面的翻修或迁址，并将67家店面更新至当前设计标准。存货同比减少10.0%。
富乐客的毛利率增加了50个基点，其中40个基点来自非经常性FLX Rewards计划费用。季度调整后的净亏损为400万美元，而去年同期为400万美元的盈利。
截至季末，该公司的现金及现金等价物总计为2.91亿美元，而总债务为4.45亿美元。
截至8月3日，该公司在北美、欧洲、亚洲、澳洲和新西兰的26个国家经营着2464家门店。
此外，在中东和亚洲地区还经营着213家特许经营店。
首席执行官Mary Dillon：“系带计划正在发挥作用，这在第二季度体现为我们总销售额和可比销售额的正增长，以及毛利率的提升。在季度过程中，我们的营收趋势不断增强，包括开学季的良好开局。”
展望：公司重申2024财年调整后每股收益指引为1.50美元至1.70美元，预估为1.54美元。
富乐客保持2024财年销售额同比变化为负1%至正1%，即8072亿至8236亿美元，预估为813亿美元。
毛利率指南为29.5%-29.7%（之前为29.8%-30.0%），反映了国际市场和WSS的促销压力。
富乐客的股票在过去12个月中上涨了77%。
价格走势：FL股票在周三盘前交易中下跌8.11%，至30.15美元。
