Foot Locker shares surge on better than expected Q3 Financial Results


Foot Locker will report earnings before Friday's open

It fall, as 100 investors sold Foot Locker, Inc. shares while 161 reduced holdings. Cubist Systematic Strategies LLC now owns 51,637 shares of the athletic footwear retailer's stock worth $1,819,000 after buying an additional 3,981 shares in the last quarter. The firm owned 9,065,383 shares of the company's stock after buying an additional 155,950 shares during the period.

BLACKROCK INC. raised its stake in Foot Locker, Inc. Finally, Canada Pension Plan Investment Board lifted its stake in Foot Locker by 65.3% in the second quarter.

Investors are looking attentively on movement of stock as RSI reading reached at 50.40 because on this mostly stock considered as overbought or oversold.

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Shares of Foot Locker (NYSE:FL) traded up $1.20 during trading on Wednesday, hitting $31.20. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.88 and a current ratio of 5.63.

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The market capitalization of Foot Locker, at $3.9 Billion. Comps are still negative, but the 3.7% decline is far better than the 6% decline reported last quarter.

For the current quarter, 20 analysts are projecting a mean EPS of $0.8/share. BANK OF NEW YORK MELLON CORP also announced increased position in Foot Locker, Inc. The company had revenue of $1.70 billion during the quarter, compared to analysts' expectations of $1.80 billion. Net sales decline 9.3% from the same period previous year to $49.8 million.

"Despite the highly promotional environment we still see in the marketplace, the availability of premium product is gradually improving compared to the first half of the year, and we believe we can achieve, and perhaps modestly exceed, the top- and bottom-line guidance we gave for the fourth quarter back in August", Johnson said.

Foot Locker, Inc. (FL) shares are up 4.05% for the week and that has got investors and traders sitting up and taking note.

As of October 28, the company operated 3,349 stores in 23 countries in North America, Europe, Australia, and New Zealand. The Company is an athletic footwear and apparel retailer, which include businesses, such as include Foot Locker, Kids Foot Locker, Lady Foot Locker, Champs Sports, Footaction, Runners Point, Sidestep and SIX:02. (NYSE:FL) has "Hold" rating given on Thursday, July 13 by Piper Jaffray.

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