Shows & Panels
- AFCEA Answers
- Ask the CIO
- The Big Data Dilemma
- Carrying On with Continuity of Operations
- Connected Government
- Constituent Servicing
- Continuous Monitoring: Tools and Techniques for Trustworthy Government IT
- The Cyber Imperative
- Cyber Solutions for 2013 and Beyond
- Expert Voices
- Federal Executive Forum
- Federal IT Challenge
- Federal Tech Talk
- Mission-critical Apps in the Cloud
- The Path from Legacy Systems
- The Real Deal on Digital Government
- The Reality of Continuous Monitoring... Is Your Agency Secure?
- Veterans in Private Sector: Making the Transition
Shows & Panels
Foot Locker 3Q net income rises 61 pct
Friday - 11/16/2012, 10:38am EST
NEW YORK (AP) - Foot Locker Inc. said Friday that its third-quarter net income rose 61 percent, boosted by higher sales at its existing stores and contributions from new ones.
The results were better than Wall Street expected and Foot Locker shares were steady at $31.85 in trading 15 minutes ahead of the opening after rising as high as $34.18 earlier in premarket trading.
For the quarter ended Oct. 27, the New York-based retailer earned $106 million, or 69 cents per share, up from $66 million, or 43 cents per share, in the same quarter last year.
The recent quarter's results included a $9 million tax benefit stemming from the settlement of a foreign tax audit. Excluding that, the company said it posted an adjusted profit of 63 cents per share.
Revenue rose 9.3 percent to $1.52 billion from $1.39 billion.
Analysts, on average, expected a profit of 54 cents per share on $1.47 billion in revenue, according to a FactSet poll.
Foot Locker said its revenue at stores open at least a year increased 10.2 percent and included 18.3 percent growth in direct-to-consumer sales. The metric is a key measure of a retailer's health, because it excludes sales at stores that recently opened or closed.
As of Oct. 27, the company had a total of 3,367 stores, up from 3,402 at the same time the year before.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)