Foot Locker (NYSE:FL) reported first-quarter results that came in below analyst expectations as global traffic softness and international underperformance weighed on results.
The retailer posted a Q1 loss per share of $0.07, wider than the expected $0.01 loss. Revenue fell 4.6% year-over-year to $1.79 billion, also below the $1.86 billion consensus estimate.
Comparable sales declined 2.6%, with a modest 0.5% drop in North America offset by an 8.5% decline in international markets, primarily due to weakness in Foot Locker Europe.
CEO Mary Dillon emphasized ongoing progress in the company’s “Lace Up Plan” and expressed optimism around the pending merger with Dick’s Sporting Goods. She added that Foot Locker remains focused on inventory management, promotions, and cash flow discipline to navigate macroeconomic headwinds.