Foot Locker reports Q3 non-GAAP earnings per share $0.87

Friday, 17 Nov 2017 

Nov 17 (Reuters) - Foot Locker Inc :Foot Locker Inc reports 2017 third quarter results.Q3 non-GAAP earnings per share $0.87.Q3 sales $1.87 billion versus I/B/E/S view $1.83 billion.Q3 earnings per share $0.81.Q3 earnings per share view $0.80 -- Thomson Reuters I/B/E/S.Foot Locker Inc - ‍Q3 comparable-store sales decreased 3.7 percent​.Foot Locker Inc - ‍Q3 results included a $13 million pre-tax charge related to reducing and reorganizing corporate and division staff​.Foot Locker Inc - ‍excluding effect of foreign currency fluctuations, total sales for Q3 decreased 2.3 percent​.Foot Locker Inc - ‍at Oct 28, 2017, co's merchandise inventories were $1,315 million, 3.4 percent lower than at end of Q3 last year​.Foot Locker Inc - qtrly gross margin rate decreased to 31.0 percent of sales from 33.9 percent a year ago​.Foot Locker Inc - ‍during Q3, co opened 12 new stores, remodeled or relocated 41 stores, and closed 22 stores​.Foot Locker Inc - in quarter, ‍within SG&A, company incurred $7 million of hurricane-related costs, majority of which related to damaged or lost inventory​.Foot Locker Inc - ‍despite highly promotional environment still seen in marketplace, "availability of premium product is gradually improving" versus h1 2017.Foot Locker Inc - ‍believe "can achieve", and perhaps "modestly exceed", top- and bottom-line guidance co gave for Q4 back in August​.