Foot Locker Q2 Results Miss View - Quick Facts

(RTTNews) - Foot Locker Inc. (FL) reported that its net income for the second quarter of 2019 declined to $60 million or $0.55 per share, from $88 million, or $0.75 per share in the corresponding prior-year period. The latest-quarter results included a $13 million charge related to the lease termination costs incurred in connection with the closure of certain SIX:02 locations.

Excluding the items, non-GAAP earnings were $0.66 per share compared to $0.75 per share last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.

Second quarter comparable-store sales increased 0.8 percent. Total sales decreased 0.4 percent to $1.774 billion, from $1.782 billion last year. Analysts expected revenues of $1.82 billion Excluding the effect of foreign exchange rate fluctuations, total sales for the second quarter of 2019 increased 0.8 percent.