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MarketWatch MarketPulseNov 22, 2019
Foot Locker's stock rallies after profit and same-store sales beat expectations, net sales comes up a bit shy
Shares of Foot Locker Inc. rallied 2.0% in premarket trading Friday, after the athletic shoe and accessories retailer reported profit and same-store sales that beat expectations, while net sales came up a bit shy. Net income fell to $125 million, or $1.16 a share, from $130 million, or $1.14 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.13, above the FactSet consensus of $1.08. Net sales rose to $1.93 billion from $1.86 billion, just below the FactSet consensus of $1.94 billion, while same-store sales growth of 5.7% beat expectations of a 5.1% rise. Gross margin increased to 32.1% from 31.6%, and inventories slipped 0.1% to $1.30 billion. The stock has dropped 22.1% year to date through Thursday, while the SPDR S&P Retail ETF has gained 5.5% and the S&P 500 has climbed 23.8%.

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