Foot Locker Stock Slides After Warning On Supply Chain Constraints; Beats Q3 Estimates

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Foot Locker Inc FL reported third-quarter FY21 sales growth of 3.9% year-on-year, to $2.189 billion, beating the analyst consensus of $2.12 billion. Third-quarter comparable-store sales increased 2.2%. Adjusted EPS of $1.93 beat the analyst consensus of $1.37.

  • The gross margin expanded 380 basis points to 34.7%.
  • Selling, general and administrative expenses rose 8% Y/Y to $458 million.
  • The operating margin was 9%, and operating income for the quarter rose 10.1% to $196 million.
  • The company held $1.3 billion in cash and equivalents as of October 30, 2021.
  • Footlocker said it expects global supply chain constraints to persist throughout the fourth quarter.
  • Price action: FL shares are trading lower by 6.98% at $53.54 in premarket on the last check Friday.
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FLFoot Locker Inc
$13.95-1.48%

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