Foot Locker reports Q1 EPS 22c, consensus 12c

Reports Q1 revenue $1.87B, consensus $1.88B. Comparable sales decreased 1.8%. Inventory decreased 5.6%. Mary Dillon, President and Chief Executive Officer, said, “We had a solid start to the year, which demonstrates that our Lace Up Plan is working. We delivered comparable sales results and gross margin in line with our expectations, while earnings per share outperformed due to disciplined expense management and some favorable shifts in expense timing. Importantly, we are well-positioned with fresh assortments as we approach the summer and Back-to-School seasons, and we are pleased to be reaffirming our full-year outlook.”