Seeking Alpha

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

  • 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

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