Foot Locker Third Quarter 2023 Earnings: Revenues Beat Expectations, EPS Lags

Foot Locker (NYSE:FL) Third Quarter 2023 Results

Key Financial Results

  • Revenue: US$2.17b (flat on 3Q 2022).

  • Net income: US$96.0m (down 39% from 3Q 2022).

  • Profit margin: 4.4% (down from 7.2% in 3Q 2022).

  • EPS: US$1.03 (down from US$1.53 in 3Q 2022).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Foot Locker Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 3.5%. Earnings per share (EPS) missed analyst estimates by 6.6%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 5.9% growth forecast for the Specialty Retail industry in the US.

Performance of the American Specialty Retail industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

We should say that we've discovered 3 warning signs for Foot Locker (1 can't be ignored!) that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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