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.

Continue Reading Below

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.

TickerSecurityLastChangeChange %FLFOOT LOCKER39.25-2.09-5.06%TD Ameritrade Stock Table

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.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The company withdrew its full-year guidance in March due to Covid-19 uncertainty.

Source Link:
https://www.foxbusiness.com/markets/foot-locker-3q-profit-sales-grow

[0.552209,"positive"]

Comments

comments

Advertisement