Footlocker (NYSE: FL) shot up in pre-market trading on Friday after the New York-based specialty athletic retailer reported solid Q3 results. The company posted sales of $2.17 billion in Q3, a decline of 0.7% year-over-year but beating Street estimates by $70 million.
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Adjusted earnings came in at $1.27 per share versus $1.74 in the same period last year but coming in ahead of analysts’ estimates of $1.11 per share.
Considering the strong results, FL raised its FY22 outlook and now expects its adjusted EPS to come in the range of $4.42 to $4.50.