Quick Win By The Algorithm: Foot Locker Shares – Best Performance In 40 Years

Quick Win By The Algorithm

Foot Locker Stock Prediction. On November 10th, 2017, I Know First issued a bullish 7-days forecast for Foot Locker, Inc (NYSE: FL). The forecast showed a signal of 18.07 and a predictability of 0.24. In accordance with the forecast, FL’s stock returned 33.36% over this period, solidifying another quick win by the I Know First algorithm.

Foot Locker, Inc., through its subsidiaries, operates as an athletic shoes and apparel retailer. The company operates in two segments, Athletic Stores and Direct-to-Customers. The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment. The Direct-to-Customers segment sells athletic footwear, apparel, equipment, and team licensed merchandise for high school and other athletes through Internet and mobile sites, and catalogs. Founded in 1879, Foot Locker, Inc. has over 3000 stores and is headquartered in New York, New York.

On November 17, 2017, Foot Locker, Inc. reported its financial results for the third quarter ended October 28, 2017. The company’s shares has shown the best performance since 1977, when they rose 28% after the release of stronger-than-expected earnings.

FL net income for the third quarter was $102 million, or $0.81 per share. The company’s Non-GAAP net income was $110 million, which means $0.87 per share. Moreover, Foot Locker also bet expectations on revenue, reporting $1.87 billion for the period.

In addition, according to FL Chairman and Chief Executive Officer, Richard Johnson, the company’s results in the quarter were broadly in line with their expectations. Furthermore, he stated: “Despite the highly promotional environment, we believe we can achieve, and perhaps modestly exceed, the top- and bottom-line guidance we gave for the fourth quarter back in August.”

Current I Know First subscribers received this bullish FL forecast on November 10th, 2017

Disclaimer

Before making any trading decisions, consult the latest forecast as the algorithm updates predictions daily. You can use the algorithm for intra-day trading. The predictability tends to become stronger with forecasts over longer time-horizons such as the 1-month, 3-month and 1-year forecasts.