Market recap: Foot Locker shares up on bullish outlook

Sales broke out of a slump and prices also rose, the retailer said.

November 24, 2018 at 3:54AM
This Thursday, Aug. 25, 2016, photo, shows an elevated presentation of Converse Prime sneakers at Foot Locker's redesigned Manhattan flagship store in New York. Foot Locker is reorganizing its stores to further highlight top brands, designating areas to showcase trends, and adding more displays of full sports gear to encourage broader shopping. (AP Photo/Mary Altaffer)
Converse Prime sneakers at Foot Locker's Manhattan flagship store in New York. (The Minnesota Star Tribune)

If the shoe fits: Retailer Foot Locker jumped 16.2 percent to $53.56 Wednesday after its third-quarter profit and revenue surpassed Wall Street's expectations. The company said sales broke out of a slump and prices also rose. Foot Locker added that it expects strong sales over the holidays. Shares closed the week at $52.96.

Deal bounce: Design software maker Autodesk climbed 8.6 percent to $133.68 Wednesday after a strong quarterly report. The company also said it is buying construction software company PlanGrid for $875 million. The stock closed Friday at $132.69.

Nissan boss: Nissan shares dropped 7.4 percent to $16.63 Monday after it said Chairman Carlos Ghosn was arrested and will be dismissed from the company after allegedly underreporting his income. The shares closed Friday at $16.92.

Filling in the Gaps: Gap stock rose 4.6 percent to $25.80 Wednesday after the retailer said it will close hundreds of namesake stores following quarterly same-store sales that landed far below analysts' estimates on Tuesday. It said it will double down on efforts to reduce excess inventory. Shares closed the week at $26.

No sale: Kohl's Corp. shares slumped 8.4 percent to $64.99 Tuesday after the retailer forecast full-year earnings largely below estimates The shares closed Friday at $63.83.

Trade woes: Boeing shares dropped 4.5 percent to $320.94 Monday as hopes faded for the U.S. and China to settle their costly trade fight after the two countries clashed at a Pacific Rim summit over the weekend. The stock closed the week at $312.32.

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Glen Stubbe/The Minnesota Star Tribune

State officials said higher premiums and diminished federal tax credits mean some people likely feel they can’t afford coverage.

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