Foot Locker Profit Jumps Almost 100%

Foot Locker Inc., the largest U.S. athletic-shoe retailer, said its fiscal first-quarter earnings almost doubled to $38 million.

Net income of 26 cents a share rose from 14 cents, or $20 million, a year earlier, which included a write-down of its discontinued Northern Group retail business, the New York-based company said. Sales rose 3.5% to $1.13 billion.

Foot Locker shares rose $1.12, or 10%, to $12.49 on the NYSE.