Foot Locker Reports 16% Rise in Net Income

Foot Locker Inc., the largest U.S. retailer of athletic shoes, said its fiscal second-quarter earnings rose 16% after reducing costs and boosting sales outside the U.S.

Net income in the quarter ended Aug. 2 climbed to $36 million, or 24 cents a share, from $31 million, or 21 cents, a year earlier, the New York-based company said. Sales increased 3.5% to $1.12 billion from $1.09 billion, helped by a decline in the U.S. dollar.

Shares of Foot Locker, which also owns the Champs Sports chain, rose 75 cents to $16.11 on the NYSE.

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* Krispy Kreme Doughnuts Inc. said fiscal second-quarter earnings rose by 47% after the company opened more stores and operating costs fell as a share of sales. Net income in the quarter ended Aug. 3 jumped to $13 million, or 21 cents a share, from $8.86 million, or 15 cents, a year earlier. Sales increased 41% to $161.8 million, Winston-Salem, N.C.-based Krispy Kreme said.

* Barnes & Noble Inc., the world’s largest book retailer, said its fiscal second-quarter profit surged, bolstered by sales of the latest “Harry Potter” book and the memoir of Sen. Hillary Rodham Clinton (D-N.Y.). Net income climbed to $13.7 million, or 20 cents a share, from $1.43 million, or 2 cents, a year earlier, when the firm had investment losses.

* Borders Group Inc. said second-quarter profit surged 32% as customers bought bestsellers including the latest “Harry Potter” book. Net income rose to $4.5 million, or 6 cents a share, from $3.4 million, or 4 cents, a year earlier.

* Nordstrom Inc.’s fiscal second-quarter profit surged 81% to $65.9 million, or 48 cents a share, from $36.3 million, or 27 cents, a year earlier as it reduced expenses and shoppers bought more cosmetics and women’s designer clothes.