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Foot Locker shares slip as firm reports light Q1 revenue

Stephen Curry, Golden State Warriors, falls during an NBA game.
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Stephen Curry, Golden State Warriors, falls during an NBA game.

Foot Locker's stock fell more than 6 percent Friday after the retailer posted mixed quarterly results.

The company reported first quarter earnings per share of $1.39 on revenue of $1.98 billion. Analysts expected earnings per share of $1.39 on revenue of $2 billion.

Foot Locker attributed light sales to rapidly shifting product category preferences, saying they were a challenge for the company.


The firm also reported same-store sales growth of 2.9 percent, below the FactSet estimated gain of 4.5 percent.

"We are focused on productivity as we work to drive top line sales, and we remain confident that we can achieve a mid- single digit comparable sales gain and a double-digit earnings per share increase for 2016," CFO Lauren Peters said in a statement.

Over the past year, Foot Locker share have fallen nearly 14 percent.

FL in past yearSource: FactSet