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Article Date: May 2017
Word Count: 908

Foot Locker Net Declines in Q1, is Cautious Looking Forward

Big Foot net income declined 6% to $180 million from $191 million in the first quarter ended Apr. 29, on revenues that inched up 1% to $2,001 million from $1,987 million and a comp store sales gain of 0.5%. Despite tempering expectations with a pre-announcement last month that Q1 results would be weak, the reported numbers missed Wall St. estimates sending FL shares down 11% in pre-market trading. The quarter got off to a bad start in Feb., which was down low-teens when tax refund checks were delayed. Sales rebounded in Mar., up high-single digits, but Apr. didn’t quite make ... Log in to view full article.


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