Foot Locker Beats Estimates on Bottom Line Sending Shares Higher

Foot Locker is out with third quarter earnings this morning. The company posted earnings of $0.82 per share, beating analyst estimates of $0.79 and 14 cents greater than EPS at this time last year. As for revenue, sales came in at $1.73 billion, just eclipsing Wall Street's expectation of $1.72 billion. Last year's revenue was $1.62 billion. Among the bright spots during the quarter, comparable-store sales rose 6.9% and the sneaker and sportswear retailer opened 35 new stores, after remodeling 67 and closing 21, bringing the worldwide total to 3,474 stores. The stock is trading up 1.6% at about $58 per share. TheStreet's Scott Gamm has details from New York.