Foot Locker, Inc. reportedly said after the markets closed that its first quarter profit jumped 74% from last year, helped by higher sales and better cost control. The company's quarterly earnings per share also handily beat analysts' estimate.
According to reports, Company reported net income for the first quarter of US$54mn or US$0.34 per share, compared to US$31mn or US$0.20 per share for the year-ago quarter. Sales for the first quarter increased 5.3% to US$1.28bn from US$1.22bn in the same quarter last year. Same-store sales for the first quarter rose 4.8%.