Why Foot Locker Stock Popped Today
Even as the broader markets continued to slide, shares of Foot Locker (NYSE: FL) jumped more than 8% on Friday after the athletic footwear retailer announced better-than-expected fourth-quarter 2019 results.
That's not to say Foot Locker's headline numbers looked good at first glance. Quarterly revenue declined 2.2% year over year to $2.22 billion, translating to a modest 4% increase in adjusted (non-GAAP) earnings of $1.63 per share.
By comparison, however, most analysts were only looking for earnings of $1.58 per share, albeit on slightly higher revenue of $2.24 billion.
Source Fool.com
