Foot Locker Stock Soars On Q2 Profit Beat, New Digital-Savvy CEO

Updated at 9:40 a.m. EST

Foot Locker (FL) shares rose Friday after the sportswear retailer posted stronger-than-expected second-quarter results, former Ulta Beauty said. (ULTA) boss and e-commerce expert Mary Dillon would replace retiring Richard Johnson as group CEO.

Foot Locker said adjusted earnings for the three months ended July came in at $1.10 per share, down 50% from the same period last year but well above Street’s consensus forecast of 81 cents per share. The group’s sales, Footlocker said, fell 9% to $2.065 billion, just below analysts’ estimates of a total of $2.07 billion, as same-store sales fell 10.3%.

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