Athletic footwear and apparel retailer Foot Locker, Inc. ( FL ) late Wednesday said its fourth quarter profit more than doubled from last year, meeting analyst estimates.
The New York-based company reported fourth quarter net income of $57 million, or 36 cents per share, compared with $23 million, or 14 cents per share, in the year-ago period.
Revenue rose 5% from last year to $1.39 billion.
On average, Wall Street analysts expected a matching profit of 36 cents per share, on slightly lower revenue of $1.37 billion.
Foot Locker shares rose 42 cents, or +2.2%, in premarket trading Thursday.
The Bottom Line
Shares of Foot Locker ( FL ) have a 3.40% dividend yield, based on last night's closing stock price of $19.42. The stock has technical support in the $17-$18 price area. If the shares can firm up, we see overhead resistance around the $20-$22 price levels.
Foot Locker, Inc. ( FL ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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