Foot Locker on Wednesday posted fourth-quarter adjusted earnings that fell a penny short of Wall Street estimates, but beat on revenue and cited a same-store sales increase for January and February.

The athletic shoe retailer reported a net profit in its fourth quarter of $23 million, or 14 cents per share, compared with a year-ago net loss of $125 million, or 81 cents per share, when the company was hit by a steep impairment charge.

Excluding charges for inventory writedowns, corporate restructuring charges and an income tax adjustment, adjusted earnings were 24 cents per share.

Analysts, on average, had been expecting earnings of 25 cents per share, according to Thomson Reuters I/B/E/S.

Revenue rose 0.6 percent to $1.33 billion, the company said, above analysts' expectation of $1.31 billion.

The company has faced a weak mall environment in which shoppers have cut back on athletic shoes, but the recent strength of toning footwear for women has been a bright spot in the market.

Shares closed on the New York Stock Exchange at $13.01, down 1.5 percent, or 20 cents a share. (Reporting by Alexandria Sage; editing by Carol Bishopric)