Foot Locker Posts 18% Increase in Fourth-Quarter Profit

Foot Locker's posted a fourth-quarter profit increase of 18% beating market expectations.

The U.S. athletic-shoe retailer earned $113 million, or 72 cents per share, in the fourth quarter, up from from $96 million, or 61 cents per share a cents, a year earlier.

Analysts on average had expected earnings of 68 cents a share, excluding any exceptional item, according to Reuters Estimates.

Fourth-quarter results benefited by 11 cents per share due to one additional week compared with the same period last year.

Foot Locker expects first-quarter earnings of 34 cents to 37 cents a share. Analysts on average expect the company to earn 40 cents a share, excluding exceptional items.

For this fiscal year, Foot Locker sees earnings from continuing operations of $1.55 to $1.65 a share.