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Foot Locker beats Street 3Q forecasts

Foot Locker on Friday reported net income of $120 million in its fiscal third quarter.

On a per-share basis, the New York-based company said it had net income of 82 cents. Earnings, adjusted for costs related to mergers and acquisitions, came to 83 cents per share.

The results topped Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 78 cents per share.

The shoe store posted revenue of $1.73 billion in the period, which also topped Street forecasts. Analysts expected $1.72 billion, according to Zacks.

Foot Locker shares have climbed 38 percent since the beginning of the year. The stock has risen 56 percent in the last 12 months.

This story was generated by Automated Insights using data from Zacks Investment Research. FL stock research report from Zacks.