Foot Locker Swings to Profit

New York City Foot Locker Inc. said Thursday that it swung to a second-quarter profit, as lower-than-anticipated markdowns helped the retailer beat Wall Street forecasts.

For the three months ending Aug. 2, the athletic retailer earned $18 million compared to a year-ago loss of $18 million. Revenue rose 1.5% to $1.3 billion, up from $1.28 billion last year. Second quarter same-store dipped 0.5%.