Footlocker Reports Jump in Earnings

Foot Locker Inc. posted a 26 percent jump in first-quarter earnings amid a 5.1 percent sales increase due to store openings.

For the quarter ended May 1, the New York-based chain late Wednesday reported earnings of USD48 million, up from USD38 million last year.

As of May 1, the company operated 3,587 stores in 16 countries in North America, Europe and Australia. Foot Locker further stated they expect full-year earnings to rise 10 percent to 20 percent.