NEW YORK (TheStreet) -- Foot Locker (FL) - Get Report stock is declining 3.98% to $64.36 in afternoon trading on Friday after the retailer's management said February comparable store sales could fall year-over-year during this morning's conference call.
"I think Foot Locker is being very conservative," Cramer added. "That has been their way. I like the stock."
Additionally, the company delivered better than expected financial results for the fiscal 2015 fourth quarter before today's market open.
The New York City-based athletic footwear and apparel retailer reported earnings of $1.16 per share for the quarter ended January 30, beating estimates of $1.12 per share.
Revenue increased 5% year-over-year to $2.01 billion for the latest quarter, while analysts were expecting revenue of $2 billion. Revenue gained 8.8% on a constant currency basis.
Comparable stores sales were up 7.9% for the quarter, driven by strong "performance across channels, geographies, banners and product categories," CEO Richard Johnson said in a statement.
"[W]e believe we can continue to elevate our financial performance in 2016 by generating a mid-single digit comparable sales gain and another double digit percentage increase in earnings per share," Johnson added.
(Foot Locker is held the Trifecta Stocks portfolio. See all of 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and notable return on equity.
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 articles's author.