Foot Locker (NYSE: FL) 4Q18 Results: Revenues Up, Comps Up 9.7%, FL Closing 165 Stores in 2019

Executive Summary

• Foot Locker 4Q18 revenues were $2.27 billion, up 2.8% year over year, above the consensus estimate of $2.18 billion. The company reported 4Q18 adjusted EPS of $1.56, beating the consensus estimate of $1.40.
• Comparable sales increased 9.7% for the quarter.
• The company plans to close 165 stores in 2019. Management said it expects mid-single digit comparable sales gains and a double digit percentage per share earnings increase.