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Foot Locker profit beats consensus by 15.2% in fiscal Q2

Foot Locker Inc. said its normalized net income for the fiscal second quarter ended Aug. 2 came to 62 cents per share, compared with the S&P Capital IQ consensus estimate of 54 cents per share.

EPS climbed 38.5% year over year from 45 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $91.3 million, an increase of 33.9% from $68.1 million in the prior-year period.

The normalized profit margin increased to 5.6% from 4.7% in the year-earlier period.

Total revenue rose 12.9% on an annual basis to $1.64 billion from $1.45 billion, and total operating expenses climbed 11.3% year over year to $1.50 billion from $1.34 billion.

Reported net income rose 38.5% on an annual basis to $92.2 million, or 63 cents per share, from $66.6 million, or 44 cents per share.