EXCHANGE: New York
Foot Locker is part of Foot Locker, Inc. (NYSE: FL) is a specialty
athletic retailer that operates more than 3,350 stores in North
America, Europe, Australia, and New Zealand. Through its Foot Locker,
Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports, SIX:02,
Runners Point, and Sidestep retail stores, as well as its
direct-to-customer channels, including footlocker.com and Eastbay.com,
the Company is a leading provider of athletic footwear and apparel.
FOOT LOCKER, INC. REPORTS 2017 THIRD QUARTER RESULTS (PDF)
• Third Quarter Net Income of $102 Million, or $0.81 Per Share
• Non-GAAP Net Income of $110 Million, or $0.87 Per Share
• Third Quarter Comparable-Store Sales Decreased 3.7 Percent
NEW YORK, NY, November 17, 2017 – Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic
retailer, today reported financial results for its third quarter ended October 28, 2017.
Third Quarter Results
Net income for the Company’s third quarter ended October 28, 2017 was $102 million, or $0.81 per share,
compared with net income of $157 million, or $1.17 per share in the same period of 2016.
Third quarter comparable-store sales decreased 3.7 percent. Total sales decreased 0.8 percent, to $1,870 million this
quarter, compared with sales of $1,886 million for the corresponding prior-year period. Excluding the effect of
foreign currency fluctuations, total sales for the third quarter decreased 2.3 percent. The Company’s gross margin
rate decreased to 31.0 percent of sales from 33.9 percent a year ago, and the selling, general, and administrative
expense rate increased 30 basis points to 19.7 percent of sales. Within SG&A, the Company incurred $7 million of
hurricane-related costs, the majority of which related to damaged or lost inventory.