Foot Locker Pulls Back Off Best Levels But Holding On To Strong Gain

(RTTNews) - Shares of Foot Locker, Inc. (FL) have pulled back off their best levels of the day but continue to see considerable strength in afternoon trading on Wednesday. After reaching its best intraday level in nearly five months, Foot Locker is currently up by 14.4 percent.

Foot Locker gapped open sharply higher after the sportswear and footwear retailer reported third quarter results that beat expectations on both the top and bottom lines.

The company reported third quarter adjusted earnings of $0.95 per share on revenues of $1.86 billion, while analysts had expected earnings of $0.92 per share on revenues of $1.85 billion.