Foot Locker: Jefferies notes expectation-beating results
(CercleFinance.com) - The analyst believes that the group reported better-than-expected Q4 results, including strong sales growth.
The sporting goods retailer's total sales slipped 0.3% to $2.33bn, although excluding currency effects, sales rose 3.6%, with LFL growth of 4.2%.
Following the announcement, Jefferies maintains its Buy rating on the stock, along with its target price of $47.
In short, the broker hailed better-than-expected Q4 results, with strong top-line growth. In addition, it likes the group's new LT strategy, which focuses on growth opportunities in low-traffic stores, exclusive merchandise and new shop formats.
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The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.
The sporting goods retailer's total sales slipped 0.3% to $2.33bn, although excluding currency effects, sales rose 3.6%, with LFL growth of 4.2%.
Following the announcement, Jefferies maintains its Buy rating on the stock, along with its target price of $47.
In short, the broker hailed better-than-expected Q4 results, with strong top-line growth. In addition, it likes the group's new LT strategy, which focuses on growth opportunities in low-traffic stores, exclusive merchandise and new shop formats.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The information and analyses distributed by Cercle Finance are only intended as decision-making support for investors. Cercle Finance's responsibility may not be entailed, either directly or indirectly following the use of such information and analyses by readers. Any non-professional investor is recommended to consult a professional advisor before making any investment decision. This indicative information in no way constitutes any invitation to sell or buy securities.