RTTNews | Aug 20, 2021 09:58AM EDT

09:58 Friday, August 20, 2021 (RTTNews.com) - Foot Locker, Inc. (FL) shares are rising more than 6 percent on Friday morning trade after the company reported a surge in second-quarter net profit.

The specialty athletic retailer reported quarterly net earnings of $430 million or $4.09 per share, compared to $45 million or $0.43 per share in the previous year. On an adjusted basis, earnings were $233 million or $2.21 per share. Analysts were looking for earnings of $1.00 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $2.28 billion from $2.08 billion last year.

Currently, shares are at $57.75, up 6.18 percent from the previous close of $54.39 on a volume of 4,581,846. For the 52-week period, the shares have traded in a range of $27.10-$66.71 on average volume of 1,431,273.

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