Foot Locker (FL) 1Q18 Results: Beats on EPS, Misses on Comps

Executive Summary

• Foot Locker reported 1Q18 adjusted EPS of $1.45, up 6.8% from $1.36 a year ago and beating the $1.25 consensus estimate. Revenues were $2.03 billion, up 1.2% year over year and above the $1.96 billion consensus estimate.
• Comps declined by 2.8%, beating the consensus estimate of a 3.9% decline.
• Management did not update guidance, however, it commented that it expects comps to turn positive during the year.