Foot Locker (FL) Tops Q2 EPS by 5c, Comps Increase 0.5%

Foot Locker (NYSE: FL) reported Q2 EPS of $0.75, $0.05 better than the analyst estimate of $0.70. Revenue for the quarter came in at $1.78 billion versus the consensus estimate of $1.76 billion.

Second quarter comparable store sales increased 0.5 percent.

"Our performance reflects the work we are doing on several fronts to position the Company to succeed in a rapidly evolving retail environment," said Richard Johnson, Chairman and Chief Executive Officer. "We remain optimistic that our improving product flow and depth in premium styles positions us to deliver stronger comparable sales growth in the second half of 2018."

Lauren Peters, Executive Vice President and Chief Financial Officer, added "We are encouraged by the results we delivered, including a return to growth on the top line combined with gross margin expansion. We maintained our disciplined approach to inventory management in the second quarter, which is enabling us to flow improving merchandise assortments into the business for back-to-school and the holidays."

For earnings history and earnings-related data on Foot Locker (FL) click here.

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