Foot Locker (NYSE: FL) 1Q19 Results: Misses Consensus Estimates, Lowers Guidance

Executive Summary

• Foot Locker 1Q19 revenues were $2.08 billion, up 2.6% year over year, below the consensus estimate of $2.12 billion. The company reported 1Q19 adjusted EPS of $1.53, down 5% from the year ago period and below the consensus estimate of $1.61.
• Comparable sales increased 4.6% for the quarter, lower than the consensus estimate of 5.6%.
• Management expects earnings per share growth in the high-single digits compared to prior guidance for double-digit growth.