Foot Locker (FL - Get Report)  posted first-quarter earnings in line with Wall Street expectations but revenue fell short of forecasts.

The New York City-based sports footwear and clothing retailer said Friday that fiscal 2016 first-quarter earnings were $1.39 a share.

That's bang on line with analysts' projections and 7.8% higher than the $1.29 a share earned in the comparable period last year.

Total first-quarter sales increased 3.7% to $1.987 billion, falling shy of the $2 billion in revenue that analysts had been expecting.

First-quarter comparable-store sales increased 2.9%.

In a statement, Foot Locker Chairman and CEO Richard Johnson said the quarter was the most profitable ever in the company's history, despite challenges including customers' rapidly shifting product preferences.

"Never has it been more apparent how important is the work that we have done to build leadership positions across channels, geographies, banners and product categories," he said.

Foot Locker opened 32 new stores during the first quarter, remodeled or relocated 55 others and closed 19 locations. As of April 30, 2016, it operated 3,396 stores in 23 countries in North America, Europe, Australia and New Zealand.

In addition, 49 franchised Foot Locker stores were operating in the Middle East and South Korea, along with 15 franchises Runners Point stores in Germany.

Fellow sports products retailer Dick's Sporting Goods (DKS - Get Report) posted better-than-expected first-quarter results on Thursday, while issuing downbeat guidance for the second quarter.

The stock fell 1.9% in premarket trading.