Foot locker says q1 same store sales fell 42.8%

Foot locker, inc. reports 2020 first quarter results.q1 loss per share $0.93.q1 sales $1.176 billion versus refinitiv ibes estimate of $1.31 billion.q1 same store sales fell 42.8 percent.q1 earnings per share estimate $-0.25 -- refinitiv ibes data.q1 non-gaap loss per share $0.67 excluding items.board temporarily suspends quarterly dividend.foot locker - reopening stores in phased approach, with over 1,400 stores now open.foot locker - as of may 2, 2020, company's merchandise inventories were $1,458 million, 20.4 percent higher than at end of q1 last year.as of may 2, 2020, operated 3,113 stores in 27 countries in north america, europe, asia, australia, and new zealand.foot locker - during q1, opened 5 new stores, remodeled or relocated 9 stores, permanently closed 21 stores.qtrly gross margin rate decreased to 23.0 percent from 33.2 percent a year ago.reducing full year capital expenditure forecast by 50% to $138 million.foot locker - extending payment terms, limiting rent payments, & reducing merchandise purchases.foot locker - board will continue to evaluate dividend policy on quarterly basis.
FL Ratings Summary
FL Quant Ranking