Foot Locker (FL) Stock Soars 20% on New CEO News Source: shutterstock.com|philip openshaw Struggling sportswear and footwear retailer Foot Locker (NYSE: FL ) may have just received a lifeline. Reportedly, the company is naming retail industry veteran Mary Dillon as CEO. Adding to the enthusiasm, Foot Locker also beat earnings estimates for the fiscal second quarter. Now, FL stock is climbing higher by 20%. Perhaps best known for helming personal care and beauty specialist Ulta Beauty (NASDAQ: ULTA ), Dillon will replace Richard Johnson in the executive role. According to Bloomberg , Dillon will also become a member of the company’s board. Both of these appointments will become active on Sept. 1. Evercore ISI analyst Warren Cheng and others see this appointment as a big positive for FL stock. Cheng characterized Dillon as one of Wall Street’s “beloved” figures. Her joining Foot Locker symbolizes a “huge win” for the company. This executive change isn’t the only upside catalyst for shares. In Q2, Foot Locker also reported adjusted earnings per share (EPS) of $1.10 .