Here's Why Shares of Foot Locker Were Higher Friday

Shares of Foot Locker (FL) - Get Report were higher on Friday after its third-quarter earnings beat expectations. Earnings of $1.13 a share were three cents ahead of analysts' estimates, while revenue of $1.88 billion was in-line with forecasts. Same-store sales increased 4.7% year-over-year, but were flat when compared to the second quarter. Inventory also rose by more than 2% year-over year. CFO Lauren Peters says that Foot Locker's inventory is fresh and well positioned as we head into the holiday season.

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