Shares of specialty athletic retailer Foot Locker Inc. (NYSE: FL) slid over 6% during premarket hours on Friday after the company missed analysts’ estimates on revenue and earnings for the first quarter of 2019.
Total sales of $2.07 billion were up 2.6% compared to the same period last year. Excluding the impact of foreign exchange, sales grew 4.7%. Comparable-store sales increased 4.6% during the quarter.

GAAP net income improved to $172 million, or $1.52 per share, from $165 million, or $1.38 per share, in the prior-year period. Adjusted EPS was $1.53.
At quarter-end, merchandise inventories totaled $1.21 billion, up 0.1% from the prior-year period. In constant currency, inventory growth was 1.7%.
During the first quarter, Foot Locker opened 14 new stores, remodeled or relocated 13 stores, and closed 34 stores. As of May 4, 2019, the company operated 3,201 stores in 27 countries in North America, Europe, Asia, Australia, and New Zealand. There were also 119 franchised Foot Locker stores operating in the Middle East, as well as 10 franchised Runners Point stores in Germany.
Foot Locker expects full-year 2019 EPS to be up high-single digits based on the share repurchase activity to date.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
V Earnings: Key quarterly highlights from Visa’s Q1 2023 financial results
Visa Inc. (NYSE: V) reported first quarter 2023 earnings results today. Net revenues grew 12% year-over-year to $7.9 billion. GAAP net income rose 6% to $4.2 billion while EPS grew
Earnings: Highlights of Intel’s (INTC) Q4 2022 financial results
Intel Corporation (NASDAQ: INTC) Thursday reported a decline in adjusted earnings and revenues for the fourth quarter. The semiconductor giant also provided guidance for the first quarter of 2023. Fourth-quarter
McCormick (MKC) expects to drive sales growth in 2023 through pricing actions and cost savings
Shares of McCormick & Company Inc. (NYSE: MKC) were down over 5% on Thursday after the company missed expectations on its fourth quarter 2022 results and provided a lower-than-expected earnings