Home / Knowledge / News / Textiles / Foot Locker releases outlook for Q1 & FY 2017
Foot Locker releases outlook for Q1 & FY 2017
21
Apr '17
Foot Locker has updated outlook for its first quarter and full year 2017. The company currently expects earnings in the first quarter ending April 29 to be equal to or slightly below last year's record earnings, or $1.36 to $1.39 per share. Comparable store sales in the first quarter are expected to increase at a low-single digit percentage rate. 

For the remaining three quarters of the year, the New York-based specialty athletic retailer aims to achieve a double-digit earnings per share percentage increase and a mid-single digit comparable store sales percentage increase; however, the sluggish first quarter is expected to result in a revised full-year earnings per share percentage increase in the mid-single digits, excluding the 53rd week.

"We mentioned on our 2016 earnings conference call on 24 February that the first quarter of 2017 would be challenging, based on the slower than usual start in the United States," said Richard Johnson, chairman and chief executive officer, Foot Locker. "Encouragingly, we are now having a strong Easter selling period, with April comparable sales likely up low double digits, which we see as confirmation that the customer's appetite for our exciting product assortments has not changed."

"Our full-year guidance called for a mid single digit percentage comparable store sales increase and a double- digit percentage earnings per share increase," added Lauren Peters, executive vice president and chief financial officer, Foot Locker. "That guidance included little operating leverage this year for several reasons outlined during our earnings call.  With comparable sales that fall short of a mid-single digit percentage increase, we currently expect some operating deleverage in the first quarter."

"Despite our disappointment in the overall sales performance in the first quarter, we are confident our banners remain at the centre of sneaker culture and we believe in our ability to produce the strong performance over the remainder of 2017 that we previously outlined," added Johnson. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

US announces final CVD on fine denier PSF from China, India

Textiles | On 19th Jan 2018

US announces final CVD on fine denier PSF from China, India

The US secretary of commerce Wilbur Ross recently announced the...

EU consumers to gain from cheaper, safer, better e-payments

Apparel/Garments | On 19th Jan 2018

EU consumers to gain from cheaper, safer, better e-payments

European consumers can now reap the full benefits of paying online...

Telangana minister pitches for investments in S Korea

Textiles | On 19th Jan 2018

Telangana minister pitches for investments in S Korea

Industries and information technology minister of India’s Telangana...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Urmil Arya

Sushila International, a well established textile organisation established ...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

January 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search