Share Market Update - (NYSE:FL) missed profit expectations, Shares Flat

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Shares of Foot Locker, Inc. (NYSE:FL) are down at the heel this evening after the company reported Q3 sales ahead of estimates by $200 million but missed profit expectations.

Athletic footwear and apparel retailer Foot Locker, citing continued weak sales in the U.S., reported late Thursday a net loss of $6 million, or 4 cents a share. A year ago it posted net income of $24 million, or 16 cents a share. Revenue for the three months ended Oct. 31 fell 7.3% to $1.21 billion from $1.31 billion a year earlier. Same-store sales fell 8.2% in the latest quarter. Analysts surveyed by FactSet Research had expected the New York-based company to earn 13 cents a share on $1.2 billion in revenue. Foot Locker shares fell 44 cents, or 2%, to close at $11.30 ahead of the report. The stock is up nearly 117% over the past 12 months.

Foot Locker shares rose 6 cents, or 0.57% to $10.60.

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