No retail dud: Double-digit sales and profit growth at Foot Locker

|About: Foot Locker, Inc. (FL)|By:, SA News Editor

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