>>> Foot Locker beats by $0.06, reports revs in-line; comps +7.8% vs. mid-single

Foot Locker beats by $0.06, reports revs in-line; comps +7.8% vs. mid-single digit guidance

Reports Q1 (Apr) earnings of $1.29 per share, $0.06 better than the Capital IQ Consensus Estimate of $1.23; revenues rose 2.6% year/year to $1.92 bln vs the $1.91 bln consensus.

First quarter comparable-store sales increased 7.8% vs. mid single digit growth guidance.
The Company's gross margin rate improved to 35.0% of sales from 34.6% a year ago.
Company's merchandise inventories were $1.234 bln, 2.7% lower YoY.