Sections
Shortcuts
Business

Higher expenses hurt Foot Locker profits

Foot Locker said profit reached $104 million.
Foot Locker said profit reached $104 million.Bloomberg News/File

This is a summary. To read the whole story subscribe to BostonGlobe.com

Foot Locker Inc. said fiscal third-quarter profit slipped 1.9 percent as the athletic apparel retailer’s higher expenses masked growth in same-store sales, which rose 4.1 percent in the period, quarter. That continues a growth trend that has lasted for several years and tops analyst estimates. Foot Locker in July acquired Germany specialty athletic store and online retailer Runners Point Group for about $254 million. For the quarter, Foot Locker posted a profit of $104 million, down from $106 million a year earlier. Sales grew 6.4 percent to $1.62 billion. Analysts expected earnings of 66 cents a share on sales of $1.57 billion.

Full story for BostonGlobe.com subscribers.

Get the full story with unlimited access to BostonGlobe.com.

Just 99 cents for four weeks.

Sections
Shortcuts

Share