Foot Locker Inc. Q1 Profit Decreases, But Beats Estimates

(RTTNews) - Foot Locker Inc. (FL) announced a profit for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $8 million, or $0.09 per share. This compares with $36 million, or $0.38 per share, in last year's first quarter.

Excluding items, Foot Locker Inc. reported adjusted earnings of $21 million or $0.22 per share for the period.

Analysts on average had expected the company to earn $0.12 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.1% to $1.87 billion from $1.93 billion last year.

Foot Locker Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $8 Mln. vs. $36 Mln. last year. -EPS (Q1): $0.09 vs. $0.38 last year. -Revenue (Q1): $1.87 Bln vs. $1.93 Bln last year.

-Guidance: Next quarter EPS guidance: $1.50 - $1.70