Foot Locker's Strong Earnings Pull Nike to the Winner's Circle
Foot Locker beat analyst estimates by six cents and delivered record sales of $6.5 billion in the fourth quarter. Shares of Nike, whose merchandise is stocked in Foot Locker stores, are higher on the news.
Foot Locker beat analyst estimates by six cents and delivered record sales of $6.5 billion in the fourth quarter. Foot Locker stores are loaded with Nike merchandise and so these strong numbers bode well for Nike, which reports its earnings on March 20. Foot Locker seems to be beating competitors Adidas and Puma in the sneaker wars. Nike has also has some winners with the LeBron James grafitti sneaker, which retail for $200.
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