Foot Locker shares jump after profit blows past expectations

Foot Locker Inc.
shares jumped 8% in Friday premarket trading after the athletic retailer reported second-quarter earnings that far exceeded expectations. Net income totaled $430 million, or $4.09 per share, up from $45 million, or 43 cents per share, last year. Adjusted EPS of $2.21 was more than double the FactSet consensus for $1.01. Sales of $2.275 billion were up from $2.077 billion and also ahead of the FactSet consensus for $2.098 billion. Comparable sales rose 6.9% versus the FactSet consensus for a 0.2% decline. Foot Locker stock has risen 34.5% for 2021 so far while the S&P 500 index
is up 17.3% for the period.