NEW YORK (TheStreet) -- Shares of Foot Locker Inc. (FL - Get Report) are up 2.61% to $53.94 in mid-morning trading on Friday, after the company reported an increase in 2014 second quarter net income to $92 million, or 63 cents per share, compared to $66 million, or 44 cents per share for the year ago quarter.
The global retailer of athletic shoes and apparel said total sales grew 12.9% for the most recent quarter to $1.64 billion versus $1.45 billion for the 2013 second quarter.
"We delivered excellent financial and operational results through the outstanding execution of our strategic priorities," said company CEO Ken Hicks.
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Separately, TheStreet Ratings team rates FOOT LOCKER INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:"We rate FOOT LOCKER INC (FL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins." You can view the full analysis from the report here: FL Ratings Report
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