Foot Locker Announces Earnings

Foot Locker (FL) announced that profits increased by 61 percent due to higher sales at existing stores as well as strong results from new stores. The company earned $106 million, or 69 cents per share, up from $66 million, or 43 cents per share, in the same period last year. Revenue increased by 9.3 percent to $1.52 billion from $1.39 billion. Analysts had expected a profit of 54 cents per share and $1.47 billion in revenue.