Editor
Foot Locker Inc.’s shares surged after the sneaker retailer’s turnaround plan got back on track.
Profit, excluding some items, was 22 cents a share, almost doubling the average analyst estimate. Comparable store sales, a key retail metric, fell 1.8 percent for the quarter ended May 4. That was slightly better than Wall Street’s expectation of a 1.9 percent drop.
“Its business is stabilising as turnaround efforts begin to pay off,”…
