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Foot Locker Beats Profit, Revenue Estimates

The company has exceeded Wall Street estimates for eight quarters


Foot Locker (NYSE:FL) announced on Friday that it earned $59 million during the second quarter, 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.

Retailer Rotation: Sell These Two, Then Buy This One
Retailer Rotation: Sell These Two, Then Buy This One

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%.

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