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Foot Locker profit beats consensus by 18.3% in fiscal Q2

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Global M&A by the Numbers: Q1 2023

Foot Locker profit beats consensus by 18.3% in fiscal Q2

Foot Locker Inc. said its normalized net income for the fiscal second quarter ended Aug. 1 was 82 cents per share, compared with the S&P Capital IQ consensus estimate of 69 cents per share.

EPS rose 31.3% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $115.6 million, an increase of 26.7% from $91.3 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 5.6% in the year-earlier period.

Total revenue increased year over year to $1.70 billion from $1.64 billion, and total operating expenses totaled $1.51 billion, compared with $1.50 billion in the prior-year period.

Reported net income increased 28.7% from the prior-year period to $118.7 million, or 84 cents per share, from $92.2 million, or 63 cents per share.