** charts before earnings **
** charts after earnings **
Foot Locker misses by $0.02, reports revs in-line; Q1 Comparable-Store Sales +0.5%:
- Reports Q1 (Apr) earnings of $1.36 per share, $0.02 worse than the Capital IQ Consensus of $1.38, at the low end of guidance for $1.36-1.39; revenues rose 0.7% year/year to $2 bln vs the $2.02 bln Capital IQ Consensus.
- Q1 Comparable-Store Sales +0.5%
- March and April Comparable-Store Sales up high-single digits
- The Company's gross margin rate decreased to 34.0% of sales from 35.0% a year ago, and the selling, general, and administrative expense rate increased 30 basis points to 18.5 percent of sales.
- "The first quarter was one of our most profitable quarters ever, but it did fall short of our original expectations," said Richard Johnson, Chairman of the Board and Chief Executive Officer. "The slow start we experienced in February, which we believe was largely due to the delay in income tax refunds, was unfortunately not fully offset by much stronger sales in March and April. Nonetheless, we believe our banners remain at the center of a vibrant sneaker culture. We are confident that our customers have not lost their tremendous appetite for athletic footwear and apparel and that our position in the industry is stronger than ever."
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