Foot Locker Continuing To Turn Around

Sterne Agee has published a research report on Foot Locker, Inc. FL after the company reported 3Q results that showed the company is continuing its positive turnaround. In the report, Sterne Agee writes "n our opinion, the quarter was high quality, principally driven by accelerating sales and material gains in merchandise margins, while additional money was deployed into SG&A, previously an area of neglect. Given the broader athletic cycle, lateral read-ins from the call include: Finish Line (FINL-$17.07-Buy), Hibbett (HIBB-$28.16-Buy), and Nike (NKE-$82.47-Buy)." Sterne Agee maintains its Neutral rating on Foot Locker, which closed yesterday at $16.44