Market Overview

Footwear Stocks Move On Heels Of Nike Inc Earnings Beat

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Nike Inc (NYSE: NKE) reported first quarter 2015 earnings of $1.09 per share on revenues of $7.98 billion, representing a 23.86 percent EPS earning beat.

The upbeat earnings report has lifted many footwear related stocks into positive territory in Friday’s trading session.

Foot Locker Inc. (NYSE: FL) was up 3 percent. Shares were up post market Thursday following Nike’s earnings. Momentum has continued into Friday’s session.

DSW Inc. (NYSE: DSW) was up 2 percent at $30.70.

Brown Shoe Company, Inc. (NYSE: BWS) reached a high of $28.90 Friday morning; it was last at $28.30, up 0.6 percent.

Shoe Carnival, Inc. (NASDAQ: SCVL) was up 0.33 percent, but was recently down 1.4 percent.

Following Nike’s announcement, shares of Finish Line Inc (NASDAQ: FINL) initially moved up to a high of $30.30 after hours, however, the company reported downbeat earnings Friday morning and is currently trading at $25.84, down 12.3 percent.

Likewise, one of Nike’s largest competitors adidas AG ADR (OTC: ADDYY) was down 1.4 percent.

 

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Posted-In: Earnings News Movers