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Foot Locker Rises 2% after Q2 Earnings

Foot Locker Rises 2% after Q2 Earnings

Shares of Foot Locker (NYSE: FL) 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 analyst 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 analyst 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 been falling slightly after gapping higher at the open.

Posted-In: Earnings News Intraday Update Movers Best of Benzinga


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