NEW YORK — Foot Locker Inc. today reported a fiscal first-quarter loss of $98 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 93 cents per share. Losses, adjusted for pretax expenses and asset impairment costs, were 67 cents per share.
The results did not meet Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The shoe store posted revenue of $1.18 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $1.32 billion.
Foot Locker shares have declined 25% since the beginning of the year. The stock has declined 48% in the past 12 months.