Foot Locker Inc.’s (FL) surprise fourth quarter earnings, which sent shares soaring more than nine percent in Friday’s session, set a positive tone for three upcoming quarterly reports from shoe retailers — DSW Inc. (DSW), Shoe Carnival Inc. (SCVL​) and Nike Inc. (NKE).

New York City-based Foot Locker reported fourth quarter earnings Feb. 24 of $1.37 per share, beating the Street view of $1.32 per share. Total sales increased 5.3 percent to $2.1 billion, up from $2.0 billion the same quarter a year prior. Same-store sales increased five percent. Foot Locker’s balance sheet revealed it holds $1.1 billion in cash with $127 million in debt. (See also, Top 7 Companies Owned by Foot Locker)

"We are facing a challenging retail sales environment as we enter 2017," Foot Locker CEO Richard Johnson said in a statement. "However, we believe the strategic initiatives we have in place, coupled with our strong vendor relationships, will enable us to deliver another year of record performance."

Foot Locker's positive results propelled DSW, Shoe Carnival, and Nike Inc. stocks into positive territory Friday, while the Dow Jones Industrial Average and the S&P 500 Index declined.

In upcoming quarterly reports, Columbus, Ohio-based DSW is scheduled to report fourth quarter earnings March 13. Analysts expect $0.13 per share in earnings, just below the $0.14 per share the company reported in the fourth quarter of 2015, when comparable sales increased 0.7 percent. (See also, Americans Go Shopping; Stocks Get Boost)

Shoe Carnival Inc., with about 400 stores in the U.S., is slated to report fourth quarter results March 16. Analysts expect $0.03 per share in earnings, down from $0.21 per share a year prior. The Evansville, Ind.-based company updated its guidance on Jan. 9 to expect comparable store sales will increase slightly for the year, versus a three percent increase in 2015.

Finally, Nike is slated to report third quarter earnings March 20. Analysts expect earnings of $0.53 per share, down from $0.89 per share in the third quarter of 2015. The Beaverton, Ore.-based athletic footwear company is focusing on creating unique in-store experiences for shoppers, like installing small basketball courts. Nike is also trying to leverage technology to give its iconic shoe brand more of an edge. (See also, Nike’s Next Shoe May Track Performance)

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