Foot Locker Quarterly Earnings Spring Past Expectations

By Carla MozeeMarketWatch Pulse

Foot Locker Inc. on Friday reported quarterly results that came in above Wall Street's expectations. Fourth-quarter net earnings at the athletic-products retailer rose to $158 million, or $1.14 a share, from $146 million, or $1.01 a share, a year earlier. Adjusted earnings for the most recent period were $1.16 a share. Sales rose to $2.007 billion from $1.91 billion. Analysts polled by FactSet had expected adjusted earnings of $1.12 a share on sales of $2.006 billion. Same-store sales for the quarter were higher by 7.9%. Foot Locker shares pushed higher by 4.4% in premarket trade following the results.

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