Foot Locker Inc. delivered strong top- and bottom-line growth in the third quarter with profit and same-store sales blew past expectations.
The athletic footwear and apparel retailer also reported that more than 10% of its global brick-and-mortar fleet is temporarily closed as a result of restrictions to deal with the new wave of COVID-19.
Foot Locker’s net income rose to $265 million, or $2.52 a share, in the quarter ended Oct. 31, from $125 million, or $1.16 a share, in the year-ago period. Excluding non-recurring items, such as a gain from a higher valuation for a minority investment, adjusted earnings per share grew to $1.21 from $1.13, beating analysts’ expectations of $0. 63.
Source: Chain Storeage
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 
