Shares of Foot Locker Inc. FL, +5.00% soared 17.7% in premarket trading Friday, after the athletic footwear and apparel retailer reported fiscal third-quarter profit that beat expectations, a surprise increase in same-store sales and boosted its full-year outlook, citing"strong" demand from"resilient" customers. Net income for the quarter to Oct. 29, fell to $96 million, or $1.01 a share, from $158 million, or $1.52 a share, in the year-ago period.
17 billion but was above the FactSet consensus of $2.09 billion, while same-store sales rose 0.8% to beat expectations of a 6.0% decline. Merchandise inventory rose 29.5% to $1.69 billion, compared with a 52.1% increase in the second quarter. For fiscal 2022, the company raised its guidance range for adjusted EPS to $4.42 to $4.50 from $4.25 to $4.45.