Foot Locker (FL) closed the most recent trading day at $33.96, moving +0.06% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.21%. Meanwhile, the Dow lost 0.43%, and the Nasdaq, a tech-heavy index, added 0.03%.Coming into today, shares of the shoe store had lost 8.02% in the past month. In that same time, the Retail-Wholesale sector lost 9.13%, while the S&P 500 lost 9.7%.Investors will be hoping for strength from Foot Locker as it approaches its next earnings release. On that day, Foot Locker is projected to report earnings of $1.10 per share, which would represent a year-over-year decline of 43.01%. Meanwhile, our latest consensus estimate is calling for revenue of $2.11 billion, down 3.55% from the prior-year quarter.For the full year, our Zacks Consensus Estimates are projecting earnings of $4.38 per share and revenue of $8.38 billion, which would represent changes of -43.63% and -6.4%, respectively, from the prior year.Any recent changes to analyst estimates for Foot Locker should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% higher within the past month. Foot Locker is holding a Zacks Rank of #3 (Hold) right now.Valuation is also important, so investors should note that Foot Locker has a Forward P/E ratio of 7.74 right now. For comparison, its industry has an average Forward P/E of 10.91, which means Foot Locker is trading at a discount to the group.Meanwhile, FL's PEG ratio is currently 0.24. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Retail - Apparel and Shoes was holding an average PEG ratio of 1.25 at yesterday's closing price.The Retail - Apparel and Shoes industry is part of the Retail-Wholesale sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 23% of all 250+ industries.The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow FL in the coming trading sessions, be sure to utilize Zacks.com. Just Released: Zacks Unveils the Top 5 EV Stocks for 2022 For several months now, electric vehicles have been disrupting the $82 billion automotive industry. And that disruption is only getting bigger thanks to sky-high gas prices. Even titans in the financial industry including George Soros, Jeff Bezos, and Ray Dalio have invested in this unstoppable wave. You don't want to be sitting on your hands while EV stocks break out and climb to new highs. In a new free report, Zacks is revealing the top 5 EV stocks for investors. Next year, don't look back on today wishing you had taken advantage of this opportunity.>>Send me my free report revealing the top 5 EV stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Foot Locker, Inc. (FL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research