Top 5 Gainers on Friday

4. Foot Locker, Inc. (NYSE:FL)

Number of Hedge Fund Holders: 28

Shares of Foot Locker, Inc. (NYSE:FL) rose to a nearly six-month high before the opening bell today. The surge came after the sportswear retailer beat profit expectations for its fiscal second quarter and disclosed the name of its incoming CEO.

Foot Locker, Inc. (NYSE:FL) revealed that the former CEO of Ulta Beauty,  Mary Dillon, will become the head of the company. She will replace the outgoing chief executive Richard Johnson next month.

Coming back to Q2 results, Foot Locker, Inc. (NYSE:FL) reported adjusted earnings of $1.10 per share versus $2.09 per share in the comparable period of 2021. Revenue came in at $2.07 billion, down 9 percent on a year-over-year basis. Analysts were looking for earnings of 80 cents per share on revenue of $2.07 billion.

Speaking on the results, CEO Richard Johnson said in a statement:

“Despite an increasingly challenging macroeconomic backdrop, we delivered a solid quarter against the favorable fiscal stimulus and promotional environment from last year. Driven by strong execution from our team and ongoing progress against our key objectives, we grew our sales 16.4% above levels from 2019.”