Foot Locker shares soared 12 percent Friday after the shoe company reported same-store sales growth that more than doubled expectations.
Foot Locker shares soared on Friday after the shoe company crushed Wall Street's profit projections and reported same-store sales growth that more than doubled expectations.
Foot Locker reported fourth-quarter earnings of $1.56 per share versus Refinitiv estimates of $1.40; sales totaled $2.27 billion."We delivered a gain in our gross margin rate above the guidance we provided at the beginning of the year, achieved an inventory turn above our long-term target, and made important investments, both directly in our business and by taking strategic stakes in other companies," Chief Financial Officer Lauren Peters said in a press release.
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