What to Watch Friday: Can Foot Locker Step Up Its Game With Earnings?
For 'What to Watch on Wall Street' for Friday November 20, TheStreet is expecting to hear from more retailers, helping us paint a bigger picture of the retail industry. The two major companies coming out with earnings before the opening bell are Abercrombie & Fitch (ANF), and Foot Locker (FL). Here are Wall Street's estimates for the footwear company's earnings. Analysts are calling for a profit of $0.94 a share on revenue of under $2 billion. This quarter's results are expected to show a growth from last year's quarter. The company's earnings came in at $0.82 a share on revenue of $1.73 billion for the 2014 third quarter. Here's why analysts believe the recent quarter will show an earnings increase: the company has a strong portfolio of leading brands that continuously meet consumer demand. Foot Locker has also been investing in remodel programs so that'll help lift earnings as well. However, one downside is currency fluctuations since Foot Locker brings in a great amount of sales from abroad. TheStreet's U-Jin Lee reports.
