Foot Locker (FL) Tops Q2 EPS by 14c, Reinstates Dividend

Foot Locker (NYSE: FL) reported Q2 EPS of $0.71, $0.14 better than the analyst estimate of $0.57. Revenue for the quarter came in at $2.08 billion versus the consensus estimate of $2 billion.

• Second quarter comparable-store sales increased 18.6 percent.
• With the strong liquidity position and more stable cash outlook, the Company announced today that the Board of Directors reinstated the quarterly dividend program and declared a quarterly cash dividend on the Company's common stock of $0.15 per share, which will be payable on October 30, 2020 to shareholders of record on October 16, 2020.

Financial Outlook

The Company previously withdrew its full-year 2020 guidance in March. Given the uncertainty surrounding the evolving COVID-19 pandemic and its potential impact on the back-to-school season, team sports participation, and additional government stimulus packages, the Company does not plan to provide a full-year 2020 outlook at this time.

For earnings history and earnings-related data on Foot Locker (FL) click here.

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