Home / Knowledge / News / Results/Reports / 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

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

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

September 2017

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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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