Sterne Agee Comments on Trends in Foot Lockers

Sterne Agee has published a research report on Foot Locker Inc FL commenting on shoe trends. In the report, Sterne Agee wrote, "All categories and regions had SSS increases with the strongest increases coming from Champs, Foot Locker Europe and Canada. By month, May and June had +LDD gains while July was up HSD. GM (+260 bps) benefitted from leveraging of fixed buying and occupancy costs (+170 bps) and merchandise margin improvement (+90 bps)." Sterne Agee rated Foot Locker a BUY with a price target of $30.00. Foot Locker closed Friday at $17.79.