March 2, 2018 / 11:52 AM / 6 months ago

BRIEF-Foot Locker Inc. Reports Q4 Loss Per Share $0.40

March 2 (Reuters) - Foot Locker Inc:

* FOOT LOCKER, INC. REPORTS 2017 FOURTH QUARTER AND FULL YEAR RESULTS

* Q4 NON-GAAP EARNINGS PER SHARE $1.26 EXCLUDING ITEMS

* Q4 SALES ROSE 4.6 PERCENT TO $2.21 BILLION

* QTRLY GROSS MARGIN RATE DECREASED TO 31.4 PERCENT FROM 33.7 PERCENT A YEAR AGO

* Q4 EARNINGS PER SHARE VIEW $1.25, REVENUE VIEW $2.22 BILLION — THOMSON REUTERS I/B/E/S

* FOOT LOCKER - AT FEB 3, 2018, MERCHANDISE INVENTORIES WERE $1,278 MILLION, 2.2 PERCENT LOWER THAN AT END OF Q4 LAST YEAR

* ‍CURRENTLY EXPECTS A FLAT TO UP LOW SINGLE-DIGIT COMPARABLE-STORE SALES PERFORMANCE FOR FISCAL 2018​

* FOOT LOCKER - DURING Q4, CO OPENED 28 NEW STORES, REMODELED OR RELOCATED 45 STORES, AND CLOSED 67 STORES

* FOOT LOCKER - Q1 2018 WILL LIKELY SEE CONTINUATION OF SALES AND MARGINS IN LINE WITH TRENDS IN H2 2017

* $99 MILLION OF INCREMENTAL TAX EXPENSE IN QUARTER, OR $0.81 PER SHARE, DUE TO RECENTLY-ENACTED REFORM OF U.S. TAX CODE

* FOOT LOCKER - CONFIDENT THAT CO WILL INFLECT BACK TO POSITIVE COMPARABLE-STORE SALES BY MIDDLE OF 2018

* DURING QUARTER, RECORDED $128 MILLION CHARGE, PRE-TAX, OR $0.66 PER SHARE AFTER TAX, RELATED TO ONGOING PENSION LITIGATION

* ‍GROSS MARGINS TO BEGIN “RECOVERING” IN 2018​

* EXCLUDING EFFECT OF FOREIGN EXCHANGE RATE FLUCTUATIONS, TOTAL SALES FOR QUARTER INCREASED 2.0 PERCENT

* EXPECT A DOUBLE-DIGIT PERCENTAGE INCREASE IN ANNUAL EARNINGS PER SHARE

* FY2018 EARNINGS PER SHARE VIEW $4.10 — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage: (Reuters.Brief@thomsonreuters.com)

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