Market Overview

Foot Locker Leaps on Positive Quarter

Shares of Foot Locker (NYSE: FL) are seeing much strength during Friday's trading session after the company reported first quarter results that impressed investors.

Foot Locker reported first-quarter EPS of $0.83 versus the estimated $0.74 per share, beating by +12.2%. Revenues came in at $1.58B versus the estimated $1.55B, beating by +1.9%.

"2012 has gotten off to an outstanding start, with our first quarter results representing the highest level of quarterly earnings in the Company's history as an athletic business," said Ken C. Hicks, Chairman of the Board and Chief Executive Officer of Foot Locker.

"The first quarter continued our recent track record of meaningful sales and profit increases over the comparable prior-year periods. We remain focused on executing the initiatives of our updated strategic plan and objectives in order to continue to drive our strong financial performance."

Currently, shares of Foot Locker are trading up over 9% at $30.72 per share.

Posted-In: Earnings News Intraday Update Movers

 

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