Foot Locker and Hibbett Sporting Goods both reported strong quarters, with sales increasing 13.4 percent and 18.7 percent, respectively. Foot Locker reported earnings of $1.10 a share with net income of $162 million, which beat last year's earnings of 90 cents a share. Hibbett delivered earnings of $1.09 a share with net income of $28.4 million versus last year's $1.00 a share on $26.2 million. Investors gave up on retail sports stocks after Dick's Sporting Goods disappointed, but Dick's blamed lower sales on gun and golf trends and said it would expand its footwear inventory. Foot Locker is benefiting from mall shoe store consolidation since shoppers have fewer place to buy casual and sport shoes.

More from Video

10 Seconds to Genius: Lowe's New CEO Marvin Ellison

10 Seconds to Genius: Lowe's New CEO Marvin Ellison

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

Replay: Jim Cramer on the Markets, Oil, General Electric, Zillow and Micron

NYSE's New President: On a Mission to Attract Talent to Wall St.

NYSE's New President: On a Mission to Attract Talent to Wall St.

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

Pegasystems Founder Explains Why He Has One of the Hottest Tech Stocks Around

10 Seconds To Genius: Facebook

10 Seconds To Genius: Facebook