Foot Locker: A Potential Bullish Play Ahead Of Earnings

Foot Locker, Inc. FL is trading up over 5% Thursday afternoon, ahead of its second-quarter earnings release before the market opens Friday.

Traders may be speculating Foot Locker could be another sympathy retail play like Target TGT and Dick's Sporting Goods DKS, both of which traded sharply higher following strong earnings results.

Foot Locker's stock is trading around $41.94 at time of publication, which is near its 52-week low of $36.81. The stock's 52-week high is $68. It will be interesting to see if Foot Locker follows suit with most of the other retailers this week.

Benzinga's Take: Foot Locker's stock is down 30% in the past six months, so it appears traders could be trying to find the next retailer to bounce back. Of note, Foot Locker recently made a large investment in sneaker marketplace, GOAT.

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