Why Foot Locker Stock Ran Higher Today
Shares of Foot Locker (NYSE: FL) ran higher today, crossing the finish line with gains of 8%, after the company provided preliminary earnings estimates. The forecast results were surprisingly strong.
Comparable-store sales jumped by approximately 18% in the second quarter, which should result in adjusted earnings per share of $0.66 to $0.70. Analysts are currently modeling for the shoe retailer to lose $0.60 per share on an adjusted basis.
Image source: Foot Locker.
Source Fool.com
