Foot Locker, Inc (NYSE:FL) reported on Friday that net income in the second-quarter moved up 59%, assisted by higher sales, cost controls and a small tax-related gain.
Financial results of the company surpass Wall Street forecasts and Foot Locker shares soared almost 6% in premarket trading session.
The New York based retailer made $59 million or 39 cents a share in earnings during three months period ended July 28, high from $37 million or 24 cents a share in the similar period previous year. The corporation announced an adjusted profit of 38 cents a share without a tax benefit of $1 million or 1 cent a share.
On average, FactSet survey confirms that analysts anticipated a profit of 33 cents a share.
Shifting readers focus to broader market, let’s consider market performance of other stocks that significantly affect same sector. Finish Line Inc (NASDAQ:FINL) fell -0.69% to settle at $22.90, Shoe Carnival, Inc (NASDAQ:SCVL) moved up +4.34% to end at $23.09 while Genesco Inc (NYSE:GCO) jumped +0.99% to finish on Friday at $68.48.
Foot Locker, Inc (NYSE:FL) last session volume of 6.02 million shares was surprisingly higher than its average volume of 1.88 million shares. The stock after opening at $35.68 hit high price of $36.00 and then closed at $35.09 by scoring +1.74%.
The liquidity measure in recent quarter results of the company was recorded 3.54 as current ratio and on the other side the debt to equity ratio was 0.06 and long-term debt to equity ratio also remained 0.06. The Company had total cash at hand $909.00 million and a book value per share as $14.60 in the most recent quarter.
The stock price volatility was 1.77% for a week and 2.07% for a month as well as price volatility’s Average True Range for 14 days was 0.80 and its beta remained 1.07.
FL generated revenue of 5.75 billion in the following twelve months and earned $312.00 million. The Company showed a positive 5.43% in the net profit margin and as well as in its operating margin which remained 8.47%. Company’s annual sales growth for the past five year was -0.45%.
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