NEW YORK (TheStreet) -- Shares of Foot Locker Inc. (FL) are higher by 2.46% to $58.40 in pre-market trading on Friday, following the company's 2014 third quarter earnings results, which grew year-over-year, and exceeded analysts' expectations.
For the most recent quarter the athletic shoe and apparel retailer said net income was $120 million, or 82 cents per share, compared to net income of $104 million, or 70 cents per share for the 2013 third quarter.
On a non-GAAP basis net earnings for the 2014 third quarter were 83 cents per share, beating the 79 cents analysts polled by Thomson Reuters had forecast.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Total sales for the latest quarter were $1.73 billion versus $1.62 billion for the same period last year. Analysts expected revenue of $1.72 billion for the quarter.
Separately, TheStreet Ratings team rates FOOT LOCKER INC as a Buy with a ratings score of A+. TheStreet Ratings 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, impressive record of earnings per share growth and compelling growth in net income. We feel these strengths outweigh the fact that the company shows low profit margins."