Aug 17, 2012 10:37 AM EDT
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Foot Locker Shoe Sale 2012: Company Sees Consecutive Increase In Share Prices

By Donovan Jackson
Foot Locker
(Photo : Reuters) A customer shops at a Foot Locker store

Foot Locker Inc, the world leading sports footwear retailer has impressed Wall Street analyst as the company's shares have risen for the past eight quarters in a row. The company continues to see an increase in customers. The shares are currently up by 6 percent.

Nike, Timberland, Reebok and Adidas are just some of the prestigious shoe brands the company sells. The company has managed to maintain and manage its inventory levels over the past few quarters and has also benefitted from the eye catching and visual stimulating designs of the athletic shoes and garments.

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The company said profit rose to $59 million, or 39 cents per share, from $37 million, or 24 cents per share, a year earlier.

On an adjusted basis, the retailer posted a profit of 38 cents per share beating analysts' estimates by 5 cents, according to Thomson Reuters I/B/E/S.

The company, which runs chains including Champs Sports and Footaction, said revenue rose 7.2 percent to $1.37 billion, above the average Wall Street estimate of $1.35 billion.

Foot Locker said comparable-store sales rose 9.8 percent.

Separately, sports good retailer Hibbett Sports Inc (HIBB.O) also posted second-quarter profit that beat estimates by 2 cents, helped by margin improvement, and raised its full-year profit outlook.

New York-based Foot Locker's shares, which have risen about 45 percent this year, were up about 5 percent at $36.08 in premarket trading. They closed at $34.49 on Thursday on the New York Stock Exchange.

The company is currently having its 2012 Back To School Sale

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