Foot Locker (FL) records double-digit revenue growth in FQ1.
Comparable-store sale rose 7.6% during the quarter.
Gross margin rate +40 bps to 34.6% on a slightly lower SG&A expense ratio.
The company ended FQ1 with inventory of $1.27B, up 8.5% from a year ago.
Net store count changes: Foot Locker US -3; Foot Locker Europe flat; Lady Foot Locker -16; Kids Foot Locker +9.
FL +2.6% premarket