Foot Locker Reports 39% Profit Jump, Strength Should Keep Kicking


Shares of Foot Locker are climbing on Friday after the retailer reported a 39% jump in fiscal second-quarter earnings. Excluding a $2 million charge tied to a write-down, profit rose to $0.64 a share from $0.46 last year. Revenue rose 13% to $1.64 billion. Analysts expected earnings of $0.54 a share on revenue of $1.57 billion, according to Thomson Reuters. Chairman and CEO Ken Hicks attributed the company's record sales and profits to 'outstanding execution' of its strategic priorities. Canaccord Genuity analyst Camilo Lyon said in a note that Foot Locker's strength is poised to continue in the second half of the year.