(Foot Locker) Shares of Foot Locker gained more than 5% on Friday after reporting adjusted earnings per share of $1.60 in the first quarter of 2022. The earnings were below $1.96 per share a year ago but higher than estimates of $1.55.
Foot Locker reported sales of $2.175 billion in the first quarter, an increase of 1% from the prior year. The sales were below estimates of $2.21 billion. The comparable-store sales were down 1.9%.
The company announced that it repurchased $89 million worth of stock in the quarter.
For FY22, Foot Locker projected a non-GAAP EPS in the upper-end of $4.25 and $4.60, compared to estimates of $4.43.
The company expects its sales for FY22 to be in the upper end of down 4% to 6%. Comparable sales growth is expected in the upper end of down 8% to 10%.
FL: NYSE is up +5.43%.
