LONDON, UK / ACCESSWIRE / April 16, 2018 / Active-Investors.com has just released a free earnings report on Foot Locker, Inc. (NYSE: FL). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FL. The Company reported its fourth quarter fiscal 2017 and full fiscal year 2017 operating and financial results on March 02, 2018. The shoe retailer, which operates more than 3,300 stores worldwide, beat earnings expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Foot Locker most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

For the 14 weeks ended February 03, 2018, Foot Locker's sales increased 4.6% to $2.21 billion compared to $2.11 billion in Q4 2016. Excluding the effect of foreign exchange rate fluctuations, the Company's total sales increased 2.0% on a y-o-y basis in the reported quarter. Foot Locker's comparable-store sales decreased 3.7% in Q4 2017. The Company's sales for the reported quarter lagged analysts' estimates by $10 million.

On a 14-week basis, Foot Locker's gross margin rate decreased to 31.4% from 33.7% in Q4 2016, reflecting the continuation of a highly promotional marketplace environment. The Company's selling, general, and administrative expenses (SG&A) increased to 19.1% in the reported quarter from 18.7% in the prior year's same quarter.

For Q4 2017, Foot Locker reported a net loss of $49 million, or $0.40 loss per share, compared to a net income of $189 million, or $1.42 per share, in Q4 2016. The Company's reported quarter results included incremental tax expenses of $99 million, or $0.81 per share, due to the recently-enacted reform of the US tax code, virtually all of which related to the levy for the deemed repatriation of offshore earnings, and a $128 million charge, pre-tax, or $0.66 per share after tax, related to the Company's ongoing pension litigation. For the prior year's comparable quarter, Foot Locker's tax expense was affected by two non-recurring items, which together increased reported earnings by $0.05 per share. Excluding charges and adjustments, the Company's non-GAAP earnings per share (EPS) were $1.26, which came in ahead of Wall Street's estimates of $1.25.

For the full year FY17, Foot Locker's sales were $7.78 billion, reflecting an increase of 0.2% compared to $7.77 billion in FY16, and represented the most in the Company's history as an athletic business.

For FY17, Foot Locker posted GAAP earnings of $284 million, or $2.22 per share, compared to $664 million, or $4.91 per share, in FY16. On a non-GAAP, 52-week basis, the Company's EPS totaled $3.99 in FY17, representing a 17% drop compared to $4.82 in FY16.

Financial Position

At February 03, 2018, Foot Locker's merchandise inventories were $1.28 billion, down 2.2% on a y-o-y basis. Using constant currencies, the Company's inventory dropped 5.2%.

During Q4 2017, Foot Locker spent $105 million to repurchase 2.8 million shares, and paid a quarterly dividend of $0.31 per share. For FY17, the Company returned $624 million to shareholders through its share repurchase program and dividends, spending $467 million to repurchase 12.4 million shares, and paying $157 million in dividends. In addition, the Company invested approximately $270 million in its store fleet, its digital platform, logistics capabilities, and infrastructure.

As of February 03, 2018, Foot Locker's cash totaled $849 million, while the debt on its balance sheet was $125 million. The Company's total cash position, net of debt, was $195 million lower than at the same time of last year. The reduction in cash was largely due to the pre-funding of $150 million of the pension litigation liability just before the end of FY17.

Store Base Update

During Q4 2017, Foot Locker opened 28 new stores; remodeled or relocated 45 stores; and closed 67 stores. As of February 03, 2018, the Company operated 3,310 stores in 24 countries in North America, Europe, Australia, and New Zealand. In addition, 98 franchised Foot Locker stores were operating in the Middle-East, as well as 14 franchised Runners Point stores in Germany.

2018 Outlook

The Company currently expects a flat to up low-single digit comparable store sales performance for FY18, and gross margins to begin recovering from last year's 31.6%, which fell 2.3% from the gross margin rate in FY16. Including the effects of elevated and accelerated digital investments, the Company's SG&A is expected to be approximately 100 basis points higher in 2017.

Stock Performance Snapshot

April 13, 2018 - At Friday's closing bell, Foot Locker's stock fell 1.59%, ending the trading session at $45.20.

Volume traded for the day: 2.12 million shares.

Stock performance in the last month ? up 4.48%; and previous six-month period ? up 37.26%

After last Friday's close, Foot Locker's market cap was at $5.57 billion.

Price to Earnings (P/E) ratio was at 15.23.

The stock has a dividend yield of 3.05%.

The stock is part of the Consumer Goods sector, categorized under the Textile - Apparel Footwear & Accessories industry. This sector was up 0.1% at the end of the session.

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