2024-03-06 09:02:09 ET
Summary
- Footwear retailer, Foot Locker, just reported its Q4 results.
- Prior to the release, shares were significantly outperforming over the last six months.
- Early momentum in the holiday season appeared to extend for the duration of the quarter.
- Comparable sales growth was nearly flat for the period despite prior projections of an upper-single-digit percentage decline.
- "Compelling promotions" were one aspect of the better-than-expected topline performance. It could have also been the most impactful.
Shares in Foot Locker ( FL ) have been on a tear over the last six months. Prior to the release of its Q4 earnings this morning, shares were up nearly 80% during this time span. Based on the immediate market reaction following today’s release, investors had reason to sell into results despite FL's beat on both the top and bottom lines....
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Foot Locker Q4 Earnings: Promotions Drive Topline Beat, Shares Fairly Valued