Why Foot Locker (FL) Is Up on Friday

NEW YORK (TheStreet) -- Foot Locker (FL) is gaining on Friday after quarterly earnings and sales came in above analysts' estimates.

By market open, shares had added 5.6% to $45.14.

The footwear retailer reported net income of $121 million, or an adjusted 82 cents a share, for the three months to January. Analysts surveyed by Thomson Reuters had anticipated $113.48 million or 76 cents a share.

Revenue jumped 4.6% compared to the year-ago quarter to $1.79 million. Analysts had expected sales of $1.62 million. Comparable-store sales increased 5.3%.

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TheStreet Ratings team rates FOOT LOCKER INC as a Buy with a ratings score of A. The team has this to say about their recommendation:

"We rate FOOT LOCKER INC (FL) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, attractive valuation levels and growth in earnings per share. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

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