Foot Locker Stock Rises After Beating Q2 Earnings Estimates

    Author Stas SerfesPosted on Format VideoCategories Investing VideosTags , , , , , , , , , , ,

    Foot Locker’s (NYSE:FL) earnings are out. The company did adjust EPS of $1.10 versus $0.80 estimated on revenue of $2.065 billion versus $2.07 billion estimated.

    Meanwhile, sales have actually decreased about 9.2% from last year, but they’ve increased 16.4% from 2019.

    And get this, guys. As of the end of last quarter, they had almost $1.65 billion of merchandise, a ton of inventory as people are getting ready to send their kids back to school. I think that’s good.

    And as for sales guidance, they lowered it a little bit from the previous estimate due to foreign exchange pressures.

    Foot Locker (NYSE:FL) Appoints New CEO

    Foot Locker (NYSE:FL) also got a new CEO. The CEO retired. Now, they appointed Ulta  Beauty’s (NASDAQ:ULTA) old CEO, Mary Dillon as the new CEO.

    For those who don’t know, Dillon helped turn Ulta into a long-term winning company.

    And looking at the stock, it is up over 15% after these earnings came out, and it’s completely breaking out almost at $40 to share.

    Let me know your thoughts. Follow along for more.

    Please See Disclaimer

    Author Stas Serfes
    About the author: Stas Serfes is a stock market investor/trader who owns Strive Smart LLC, a media company that’s amassed millions of views across multiple platforms. Upon graduating college, he realized he wanted to take the entrepreneurial route and create his own path. In 2017 Stas started his Youtube channel “Stas Serfes” where he began creating content on his experiences in the stock market and what he’s learned. This stemmed from his passion about money, business, stocks, and personal finance.