UPDATE: Foot Locker Posts Higher Q1 Profit

Foot Locker FL reported a rise in its first-quarter profit. Foot Locker's quarterly profit surged to $138 million, or $0.90 per share, versus $128 million, or $0.83 per share, in the year-earlier period. Its adjusted earnings increased to $0.91 from $0.83 per share. Its revenue climbed 3.8% to $1.64 billion from $1.58 billion. However, analysts were projecting earnings of $0.89 per share on revenue of $1.63 billion. Foot Locker shares gained 0.90% to $36.00 in pre-market trading.