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BRIEF-Foot Locker Q1 earnings per share $1.36

May 19 Foot Locker Inc:

* Foot Locker, Inc. Reports 2017 first quarter results

* Q1 earnings per share $1.36

* Q1 earnings per share view $1.38 -- Thomson Reuters I/B/E/S

* Foot Locker Inc - at april 29, 2017, company's merchandise inventories were $1,279 million, 1.5 percent higher than at end of q1 last year

* Foot Locker Inc says q1 comparable-store sales increased 0.5 percent

* Foot Locker says excluding effect of foreign currency fluctuations, total sales for q1 increased 1.8 percent

* Foot Locker says q1 gross margin rate decreased to 34.0 percent of sales from 35.0 percent a year ago

* Foot Locker - "believe our inventory is still well positioned to drive improved top line results over balance of year"

* Foot Locker -"we are aggressively reviewing and implementing opportunities to lower expenses as we work to achieve a mid-single digit eps increase for full year"

* Foot Locker qtrly sales $2,001 million versus $1,987 million last year

* Foot Locker says "first quarter was one of our most profitable quarters ever, but it did fall short of our original expectations"

* Q1 revenue view $2.02 billion -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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