Why Foot Locker Stock Soared Today

Shares of shoe retailer Foot Locker (NYSE: FL) soared on Wednesday after the company reported financial results for its fiscal fourth quarter of 2024, ended Feb. 1, 2025. As of 10:15 a.m. ET, Foot Locker stock was up about 9% but it had been up as much as 15% earlier in the day.Going into its Q4 report, Foot Locker stock was languishing near its lowest price in over a decade, reflecting just how low investors' expectations were for this shoe retailer. But against those low expectations, the company surprised folks. Its Q4 same-store sales were up nearly 3% year over year and its gross margin was considerably improved as well.According to Foot Locker and others, the shoe space is very promotional at the moment -- consumers are looking for bargains. This would seem to be a bad environment for Foot Locker right now. But the company was able to grow sales at existing stores without falling back on promotions, which would have hurt margins.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool