Foot Locker Tops Q2 Earnings Forecast, Reinstates Dividend

Foot Locker Inc.  (FL) – Get Report posted stronger-than-expected second quarter earnings Friday, and reinstated its dividend and share buyback programs, as the athletic retailer looks to move past store closures and slumping demand triggered by the coronavirus pandemic. 

Foot Locker said non-GAAP earnings for the three months ending on August 1 were pegged at 71 cents per share, up 7.6% from the same period last year and just ahead of the Street consensus forecast of 69 cents per share. Group revenues, Foot Locker said, rose 17.1% to an analyst-beating $2.077 billion, thanks in part to a surprise 18.6% surge in same-store sales.

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