Foot Locker (FL) Stock Gains Ahead of Tomorrow’s Q1 Results
NEW YORK (TheStreet) -- Foot Locker (FL) - Get Report stock is advancing 2.01% to $58.27 on heavy trading volume on Thursday afternoon before the company reports its fiscal 2016 first quarter financial results on Friday before the market open.
The New York City-based sports footwear and apparel retailer is expected to show year-over-year growth in the top and bottom lines tomorrow morning.
Analysts have estimated earnings of $1.39 per share on revenue of $2 billion for the latest quarter, compared with $1.29 per share on revenue of $1.92 billion for the same quarter last year.
Fellow sports products retailer Dick's Sporting Goods (DKS) reported better-than-expected quarterly results earlier today with strong growth in e-commerce.
Foot Locker is also expected to see growth in the digital channel as consumer spending trends shift to online, Chris Versace and Bob Lang wrote in a post on Trifecta Stocks.
So far today, 3.93 million shares of Foot Locker have exchanged hands, compared with its average daily volume of 3.23 million shares.
(Foot Locker is held in the Trifecta Stocks portfolio. See all the holdings with a free trial.)
Separately, Foot Locker has a "buy" rating and a letter grade of A- at TheStreet Ratings because of the company's growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and reasonable valuation levels.
You can view the full analysis from the report here: FL
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.
