Foot Locker Rises 2% after Q2 Earnings

Shares of Foot Locker

gapped higher at the open on Friday morning after the company released its fiscal second-quarter earnings results prior to the opening bell. The specialty retailer reported net income of $59 million or $0.39 per share, compared to $37 million or $0.24 per share, in the year ago period. This came in ahead of analysts' consensus EPS estimates of $0.33. Revenues in the quarter were up 7.2 percent to $1.367 billion, versus $1.275 billion in last year's second-quarter. This also beat analysts' consensus revenue estimates of $1.35 billion. Comparable store sales at Foot Locker were up 9.8 percent in the quarter. During Friday's trading session, Foot Locker shares had risen around 2 percent to $35.14. The stock opened trading at $35.68 and has actually been falling slightly after gapping higher at the open.