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PRE-MARKET MOVERS: Foot Locker sprints before the bell but Hibbett Sports takes a dive

Last updated: 10:00 25 May 2018 EDT, First published: 03:00 25 May 2018 EDT

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In US pre-market movers, Foot Locker Inc (NYSE:FL) was the standout stock, soaring nearly 11% to US$51.46 as first quartger earnings cheered the market.

Net income for the sportswear group  in its first quarter was US$165mln, or US$1.38 per share, compared to net income of $180 million, or $1.36 per share in the same period of 2017.

Revenue was  US$2.03Bbn for the three months compared to US$2bn previously. The consensus was for US$1.96 bln.

Elsewhere, Hibbett Sports Inc (NYSE:HIBB) tanked before the bell, with shares down over 18% to US$23.60.

It came as first quarter earnings fell short of estimates, with the sports retailer saying it had net income of US$21.5mln, or US$1.12 a share, in the quarter, up from US$20.9 million, or 97 cents a share, in the year-earlier period.

GAP Inc (NYSE:GPS)  shares lost nearly 8% before the bell at US$30.45 after the retailer missed the Street's per-share earnings expectations and its same-store sales grew less than forecast.

Elsewhere, Ross Stores Inc (NASDAQ:ROST) shares shed 4.23% to US$79.45  after the retailer reported first-quarter earnings and sales, which were above Wall Street expectations but predicted weaker second-quarter earnings

The discount department store chain reported a slight beat on first quarter revenue - US$3.59bn versus the US$3.54bn expected.

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