Foot Locker Q1 profit tops view despite sales shortfall

May 21st, 2009 - Reuters

Related content:

* Q1 earnings 20 cents/shr vs est of 13 cents

* Q1 revenue slips 7 pct

* Shares up 5 pct in post-market trade

May 21 (Reuters) - Athletic shoe retailer Foot Locker Inc's(FL.N) posted a better-than-expected quarterly profit, asimproved margins from recent cost cuts helped offset a 7percent decline in sales.

The company's shares rose more than 5 percent to $11 intrading after the bell. They had closed at $10.45 Thursday onthe New York Stock Exchange.

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