Foot Locker Q3 profit surges 61% on strong sales
New York -- Foot Locker Inc. reported Friday that net income for the quarter ended Oct. 27 surged 61% to $106 million, compared with $66 million in the year-ago period. The recent quarter's results, which surpassed Wall Street expectations, included a $9 million tax benefit stemming from the settlement of a foreign tax audit.
Revenue rose 9.3% to $1.52 billion from $1.39 billion, beating analysts’ expected $1.47 billion in revenue. Same-store sales climbed 10.2%.