Foot Locker Inc. (NYSE: FL) reported first-quarter 2014 results before markets opened on Friday. The footwear retailer reported adjusted diluted earnings per share (EPS) of $1.11 and $1.87 billion in revenues. In the same period a year ago, Foot Locker reported EPS of $0.91 on revenue of $1.64 billion. First-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $1.06 and $1.79 billion in revenue.

Same-store sales rose 7.6% in the first quarter, compared with the same period of last year. Gross margin improved slightly, from 34.2% a year ago to 34.6%, while SG&A fell slightly from 19.2% to 19.0%.

Adjusted earnings exclude $2 million for an impairment charge taken for a trade name and integration costs for Foot Locker’s 2013 acquisition of Runners Point Group, a European chain of 200 shoe stores primarily in Germany.

The company did not provide any guidance, but the consensus second-quarter estimates call for EPS of $0.54 on revenues of $1.56 billion. For the full fiscal year, Foot Locker is expected to post EPS of $3.24 on revenues of $6.91 billion.

The company’s CEO said:

We are off to a great start in 2014, with our first quarter results representing the highest quarterly sales and profits in our history as an athletic company — for the third consecutive year.

Foot Locker opened 27 new stores during the first quarter while remodeling or relocating 49 and closing 36. Foot Locker operates or franchises more than 3,500 stores worldwide.

The stock posted a new 52-week high last week and has risen 333% over the past five years. A new 52-week high could be in the cards for Friday as well.

Shares were up about 5.1% in premarket trading to $50.00, which would be a new 52-week high if it holds. The current 52-week range is $31.91 to $49.63. Thomson Reuters had a consensus analyst price target of around $51.80 before these results were announced.

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