UPDATE: Foot Locker Q2 Profit Surges 12%

Foot Locker

reported a 12% rise in its fiscal second-quarter profit. Foot Locker's quarterly profit surged to $66 million, or $0.44 per share, from $59 million, or $0.39 per share, in the year-ago period. Excluding one-time items, its earnings climbed to $0.46 per share from $0.38 per share. Its total sales gained 6.4% to $1.45 billion. However, analysts were projecting earnings of $0.47 per share on sales of $1.45 billion. Foot Locker's gross margin declined to 31.2% from 31.3%. Foot Locker shares rose 1.44% to $34.50 in pre-market trading.