Shoe retailer chain Foot Locker (NYSE: FL) reported combined outcomes for the primary quarter of 2022. Earnings decreased from final yr however topped expectations, whereas internet gross sales missed the Avenue view.
First-quarter earnings, adjusted for one-off gadgets, declined to $1.60 per share from $1.96 per share in the identical interval of 2021. Nonetheless, the newest quantity surpassed Wall Avenue’s prediction. Unadjusted internet revenue dropped to $133 million or $1.37 per share from $202 million or $1.93 per share a yr earlier.
The New York-based firm reported internet gross sales of $2.18 billion, up 1% from the prior-year interval when it reported gross sales of $2.15 billion. The highest line missed the consensus forecast.
“Our progress in broadening and enriching our assortment continues, as we proceed to satisfy our clients’ demand for alternative. These efforts helped drive our sturdy ends in the primary quarter, and we consider will permit us to extra totally take part within the sturdy development of our class going ahead,” stated Foot Locker’s CEO Richard Johnson.