Foot Locker Beats Profit, Revenue Estimates

by Christopher Freeburn | August 17, 2012 11:20 am

Foot Locker (NYSE:FL[1]) announced on Friday that it earned $59 million during the second quarter[2], up 59% from $37 million in the same period last year.

The athletic footwear seller recorded revenue of $1.37 billion, up 7.2% from 2011. That topped the $1.35 billion that analysts had expected, Reuters noted.

Adjusted EPS for the quarter was 38 cents, beating the 33 cents a share that Wall Street had forecast.

Shares of Foot Locker rose more than 2% in Friday morning trading.

The company’s share price has jumped roughly 45% so far this year.

The results mark the eighth consecutive quarter in which Foot Locker has topped analysts’ predictions.

Same-store sales at the company’s various outlet chains, which included Foot Locker, Champs Sports and Footaction stores, increased 9.8%.

Endnotes:
  1. FL: http://studio-5.financialcontent.com/investplace/quote?Symbol=FL
  2. during the second quarter: http://in.reuters.com/article/2012/08/17/footlocker-results-idINL4E8JH37L20120817

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