Foot Locker (NYSE: FL) reported Q4 EPS of $1.26, $0.01 better than the analyst estimate of $1.25. Revenue for the quarter came in at $2.21 billion versus the consensus estimate of $2.22 billion.

Fourth quarter comparable-store sales decreased 3.7 percent.

2018 OutlookThe Company currently expects a flat to up low single-digit comparable-store sales performance for fiscal 2018 and gross margins to begin recovering from 2017's 31.6 percent rate, which fell 2.3 percent from the gross margin rate in fiscal 2016. Including the effect of elevated and accelerated digital investments, the Company's SG&A rate is expected to be approximately 100 basis points higher in 2018.

"The first quarter of 2018 will likely see the continuation of sales and margins in line with trends in the second half of 2017," said Lauren Peters, Executive Vice President and Chief Financial Officer. "However, we are confident that we will inflect back to positive comparable-store sales by the middle of 2018, with the pace of sales continuing to gradually strengthen in the second half of the year based on the improving depth and variety of premium products we see coming from our key vendors. We also expect a double-digit percentage increase in annual earnings per share, with an effective tax rate in the 27 to 28 percent range and a lower share count both contributing to this performance."

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