Foot Locker grows quarterly profit, sales
More than 10% of the company's stores are temporarily closed
Foot Locker Inc. said its profit and sales rose for the third quarter, even as the back-to-school selling season started later than usual due to Covid-19-related delays.
The New York-based specialty athletic retailer on Friday posted a profit of $265 million, or $2.52 a share, compared with $125 million, or $1.16 a share, in the year-earlier period.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FL | FOOT LOCKER INC. | 23.60 | -0.15 | -0.63% |
Excluding items, earnings were $1.21 a share. Analysts polled by FactSet had expected 63 cents a share.
Sales rose 9% to $2.11 billion from $1.93 billion. Analysts had been looking for $1.95 billion.
Comparable-store sales rose 7.7%.
More than 10% of the company's stores are temporarily closed, Chief Financial Officer Lauren Peters said.
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The company withdrew its full-year guidance in March due to Covid-19 uncertainty.