New York-based athletic giant Foot Locker beat Wall Street expectation in its second quarter.
On Friday, Foot Locker reported that it earned 94 cents a share, up 11 percent from 84 cents one year earlier. Revenue increased 5 percent to $1.78 billion. Additionally, comparable-store sales increased by 4.7%.
Ultimately, Foot Locker outpaced experts’ expectations. Investors.com predicted a share value of 90 cents and revenue of $1.76 billion.
“Within the second quarter, we drove comparable sales gains across basketball, running, and classic footwear, as well as apparel,” said Foot Locker CEO Richard Johnson in a press release. “We share this understanding with our key vendors, which enables us to partner with them to deliver the trend-right, premium footwear and apparel assortments our customers seek, which in turn has led to consistently outstanding financial results such as we announced today,” Johnson said.