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Bloomberg
Foot Locker Inc rose in early trading after surprisingly robust same-store sales powered earnings past analysts’ estimates.
The athletic-footwear retailer said that comparable sales rose 7.7% in the period, better than the 0.9% analysts expected according to Consensus Metrix. Adjusted earnings of $1.21 a share topped the estimate of 66 cents compiled by Bloomberg.
Foot Locker continued the resilience it has shown earlier in the pandemic, although the pace slowed somewhat from the second quarter. That period, reported in August, saw same-store sales surge 18%. The company cited fiscal stimulus as aiding its second-quarter results.