8/19, 4:06 PM (Source: TeleTrader)
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Foot Locker jumps 20% after Q2 earnings, CEO change

Foot Locker Inc. shares soared over 20% on Friday after the company reported figures from its fiscal second quarter of 2022.

"Driven by strong execution from our team and ongoing progress against our key objectives, we grew our sales 16.4% above levels from 2019," Chairman and CEO Richard Johnson said in the report, adding that the sportswear company is expected to be "in a strong position to navigate the expected ongoing macroeconomic headwinds in the back half of 2022."

The company also announced that Johnson will retire on September 1 and that he will be replaced by Ulta Beauty Inc. Executive Chair and CEO Mary Dillon. Foot Locker's shares surged 20.70% to $38.59 at 9:49 am ET.

Baha Breaking News (BBN) / MS