RTTNews | Nov 19, 2021 07:07AM EST

07:07 Friday, November 19, 2021 (RTTNews.com) - Specialty athletic retailer Foot Locker, Inc. (FL) reported Friday a third-quarter net income of $158 million or $1.52 per share, lower than $265 million or $2.52 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $1.93 per share, compared to $1.21 per share in the year-ago quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $1.37 per share for the quarter. Analysts' estimates typically exclude special items.

Total sales for the quarter grew 3.9 percent to $2.19 billion from $2.11 billion in the same quarter last year. Excluding the effect of foreign exchange rate fluctuations, total sales improved 3.6 percent. Comparable-store sales increased 2.2 percent. The Street was looking for revenues of $2.14 billion for the quarter.

Looking ahead, the company said it expects global supply chain constraints to persist throughout the fourth quarter, but are positioned for the holiday season, with positive momentum and inventory levels ready to meet customer demand.

Shortly after the end of the third quarter, the company completed its acquisition of atmos for $360 million, subject to customary adjustments.

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