Foot Locker's (NYSE:FL) earnings are out. The company did adjust EPS of $1.10 versus $0.80 estimated on revenue of $2.065 billion versus $2.07 billion estimated.
Meanwhile, sales have actually decreased about 9.2% from last year, but they've increased 16.4% from 2019.
And get this, guys. As of the end of last quarter, they had almost $1.65 billion of merchandise, a ton of inventory as people are getting ready to send their kids back to school. I think that's good.
And as for sales guidance, they lowered it a little bit from the previous estimate due to foreign exchange pressures.
Foot Locker (NYSE:FL) Appoints New CEO
Foot Locker (NYSE:FL) also got a new CEO. The CEO retired. Now, they appointed Ulta Beauty's (NASDAQ:ULTA) old CEO, Mary Dillon as the new CEO.
For those who don't know, Dillon helped turn Ulta into a long-term winning company.
And looking at the stock, it is up over 15% after these earnings came out, and it's completely breaking out almost at $40 to share.
Let me know your thoughts. Follow along for more.