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Footwear stocks lifted by millennial demand

Aug. 19, 2016 11:14 AM ETFoot Locker, Inc. (FL) StockNKE, WWW, FL, CROX, SKX, CAL, SHOO, RCKY, UAABy: Clark Schultz, SA News Editor
  • Foot Locker (FL +10%) rips higher after posting strong sales growth. The company cited strength in basketball, running, and classic footwear during the quarter.
  • Under Armour (NYSE:UA) is up 1.6% and Nike (NYSE:NKE) is 2.7% higher off the strong read on athletic shoe sales.
  • Other notable gainers include Skechers (SKX +1%), Wolverine World Wide (WWW +3.4%), Rocky Brands (RCKY +1.5%), Steven Madden (SHOO +1.4%), Caleres (CAL +1%), and Crocs (CROX +1%) -- all ahead of broad market averages.
  • An underlying theme continuing to emerge in the shoe sector is that discretionary spending by millennials on the category is stronger than what is being seen in other areas of retail. Also of note, the millennial group has shown loyalty to power brands.
  • Previously: Foot Locker beats by $0.04, beats on revenue (Aug. 19)
  • Previously: Foot Locker higher on earnings beat and positive comp (Aug. 19)

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