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Foot Locker fiscal Q3 profit climbs 16.9% YOY

Foot Locker Inc. said its normalized net income for the fiscal third quarter ended Nov. 1 amounted to 80 cents per share, compared with the S&P Capital IQ consensus estimate of 79 cents per share.

EPS increased 19.9% year over year from 67 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $116.9 million, a gain of 16.9% from $100.0 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 6.2% in the year-earlier period.

Total revenue rose 6.7% on an annual basis to $1.73 billion from $1.62 billion, and total operating expenses increased 5.8% on an annual basis to $1.54 billion from $1.46 billion.

Reported net income grew 14.2% year over year to $119.5 million, or 82 cents per share, from $104.7 million, or 70 cents per share.