Last quarter, Footlocker stole our thunder when it leaked its pent-up-demand/stimulus-driven-success in the second quarter ahead of its scheduled earnings report.
This quarter tells a different tale.
Purchase Intent in 20Q3 decreased 52% QoQ but remains elevated YoY.
Last quarter FL reported triple-digit growth in digital sales.
This quarter, LikeFolio logged digital-only Purchase Intent mentions nearly 50% higher YoY. This is well below the level of growth recorded in 20Q2.
The company also noted a handful of potential headwinds including: reduced foot traffic, a slow back-to-school season, fewer sports activities, and the absence of an additional stimulus.
We’ll be watching as FL reports Friday morning before market open to see if the company can meet investor expectations.
In Early March, LikeFolio Members received a report praising INTU as a “virus-proof investment.” Although the stock went on to crash -25% in the following weeks, the tax-service company has since proven our hypothesis, with shares currently trading +30% from our March 9th entry price.