Foot Locker Inc. shares rose 4.1% in Friday premarket trading after it reported first-quarter profit that beat expectations. The athletic retailer posted net income of $133 million, or $1.37 per share, down from $202 million, or $1.93 per share, last year. Adjusted EPS of $1.60 beat the FactSet consensus for $1.54. Sales of $2.175 billion were up from $2.153 billion and missed the FactSet consensus for $2.200 billion. Comparable sales were down 1.9%, ahead of the FactSet consensus for a 4.1% decline. Foot Locker now expects full-year sales to be on the upper end of a 4% to 6% decline, full-year comparable sales on the upper end of an 8% to 10% decline, and full-year adjusted EPS on the upper end of $4.25 to $4.60. The FactSet consensus is for sales of $8.448, implying a 5.7% decline, a comparable sales decline of 9.5% and EPS of $4.42. Foot Locker shares are down 30.6% for the year to date.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
