Retailer steps it up in quarter
Foot Locker Inc. said that its third-quarter net income rose 61 percent, boosted by higher sales at its existing stores and contributions from new ones. The results beat Wall Street estimates. For the quarter ended Oct. 27, the New York-based retailer earned $106 million, or 69 cents per share, up from $66 million, or 43 cents, a year ago. Revenue rose 9.3 percent to $1.52 billion from $1.39 billion. The results also included a $9 million tax benefit. Foot Locker said revenue at stores open at least a year increased 10.2 percent and included 18.3 percent growth in direct-to-consumer sales.