Foot Locker Q2 Profit Tops View - Quick Facts

(RTTNews) - Foot Locker Inc. (FL) reported that its second-quarter net income climbed to $430 million or $4.09 per share, from $45 million or $0.43 per share in the same quarter last year, reflecting strong results in its women's and kids' footwear business along with broad demand for its apparel and accessories offerings.

On a non-GAAP basis, the company earned $2.21 per share, an increase of over 200% from the $0.71 per share in the second quarter of 2020. Analysts polled by Thomson Reuters expected the company to report earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Second quarter comparable-store sales increased by 6.9%. Total sales increased by 9.5% to $2.275 billion from $2.077 billion last year. Excluding the effect of foreign exchange rate fluctuations, total sales for the second quarter increased by 7.3%. Analysts expected revenues of $2.09 billion.

Looking ahead, the company said it is cautiously optimistic about the outlook for the back-half of 2021.