The Leuthold Group chief investment strategist Jim Paulsen discusses consumer spending and the markets amid the coronavirus pandemic.
Foot Locker Inc. said its profit and sales rose for the third quarter, even as the back-to-school selling season started later than usual due to Covid-19-related delays.
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The New York-based specialty athletic retailer on Friday posted a profit of $265 million, or $2.52 a share, compared with $125 million, or $1.16 a share, in the year-earlier period.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| FL | FOOT LOCKER | 40.05 | -1.29 | -3.12% |
Excluding items, earnings were $1.21 a share. Analysts polled by FactSet had expected 63 cents a share.
Sales rose 9% to $2.11 billion from $1.93 billion. Analysts had been looking for $1.95 billion.
Comparable-store sales rose 7.7%.
More than 10% of the company’s stores are temporarily closed, Chief Financial Officer Lauren Peters said.
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The company withdrew its full-year guidance in March due to Covid-19 uncertainty.
