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Foot Locker Revenue And Profits Rise

|Includes: Foot Locker, Inc. (FL)

Originally published at www.seclive.com

Filing in Focus: Foot Locker 8-K, August 23, 2013

Foot Locker, Inc. (NYSE:FL) announced its financial results for the second quarter of fiscal year 2013, reporting revenues that met analyst expectations. This quarter Foot Locker revenue increased 6% from $1.37B to $1.45B, with profits up from $59M this quarter last year to $66M. Shareholders earned $0.44 per share, up from $0.39 per share last year. As of the beginning of August, Foot Locker operates 3,500 stores in 23 countries. During second quarter the company opened 24 new stores, closed 44, and relocated or remodeled 89 stores. While other retailers had a struggling second quarter, Foot Locker seemed to remain stable, with same-store sales increasing 1.8%. CEO Ken Hicks remarked that United States sales were very challenging but the company performed very well.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.