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Fly News Breaks for May 31, 2016
FL
May 31, 2016 | 06:53 EDT
Piper Jaffray analyst Erinn Murphy says she's incrementally positive on Foot Locker following two new basketball launches on Saturday, May 28. Of the two major launches on Saturday, the Jordan 12 Flu Game has the higher near-term comp impact whereas the Steph Curry 2.5 is a new line that Foot Locker will carry with an exclusive, Murphy tells investors in a research note. Her store checks indicate the Flu Game launch sold out in 90% of stores within a day. She believes Foot Locker's comps "markedly improved" to the end the month and keeps an Overweight rating on the shares with a $67 price target.
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