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Foot Locker fiscal Q1 profit climbs 19.2% YOY

Foot Locker Inc. said its normalized net income for the fiscal first quarter ended May 3 came to $1.08 per share, compared with the S&P Capital IQ consensus estimate of $1.06 per share.

EPS rose 23.3% year over year from 88 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $159.4 million, a gain of 19.2% from $133.8 million in the prior-year period.

The normalized profit margin climbed to 8.6% from 8.2% in the year-earlier period.

Total revenue grew 14.0% on an annual basis to $1.87 billion from $1.64 billion, and total operating expenses increased 13.4% from the prior-year period to $1.61 billion from $1.42 billion.

Reported net income increased 18.1% from the prior-year period to $162.4 million, or $1.10 per share, from $137.4 million, or 90 cents per share.