NEW YORK — Foot Locker Inc. today reported fiscal first-quarter net income of $202 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the company said it had profit of $1.93. Earnings, adjusted for asset impairment costs, came to $1.96 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.
The shoe store posted revenue of $2.15 billion in the period, which also topped Street forecasts. Seven analysts surveyed by Zacks expected $1.92 billion.
Foot Locker shares have risen 48% since the beginning of the year. The stock has more than doubled in the past 12 months.