Checking out Foot Locker Shares (FL)
StockerBlog pointed out last week that Foot Locker, Inc. (NYSE:FL) shares may be worth investors' attention. Turns out FL is selling for 93% of book value and yields a 5% dividend.
The stock has been a roller coaster ride over the past year, trading between $9 to $12 but so far in 2010 Foot Locker Inc shares are up 5.48%.
This month Foot Locker (FL) said it is closing 117 stores in the fourth quarter and revamping its organization, installing Richard Johnson as president and chief executive of Foot Locker U.S., Footaction, Kids Foot Locker and Lady Foot Locker. Johnson had been president and CEO of the firm’s Foot Locker Europe unit.
For the full year, Foot Locker said it will have opened 37 stores, closed 190 and remodeled or relocated another 160 doors. A large percentage of the 117 stores slated for closure this quarter are Foot Locker and Lady Foot Locker locations in the U.S.
Masters, Foot Locker the retailer of athletic footwear and apparel has a forward PE of 16 and has a market cap of $1.84 billion. The stock is worth adding to you watch list but the one thing we are skeptical about is how it trades, the 12 month chart looks like a sin wave, so expect volatility. Here's the technicals on Foot Locker, Inc. (NYSE:FL) thanks to shortsqueeze.com and graph via finviz.com:
Best of the Blogs
Scanning and identifying the best blog entries every hour
- United States Of China: In Which States Is Your Landlord Most Likely To Be Chinese | ZeroHedge
- Back to the Future with These Two Iconic Brands | iBankCoin.com
- MAY YOU BURN IN THE FIRES OF 1,000 SUNS | iBankCoin.com
- Market Jumps On Today's Central Bank Verbal Plunge Protection, Courtesy Of Mario Draghi | ZeroHedge
- Somone Really Needs To Explain To Europe What "Austerity" Means | ZeroHedge
- Initial Jobless Claims Rise Most In 3 Months, 4-Week Average Lowest Since 2000 | ZeroHedge
- Wall Street Is One Sick Puppy - Thanks To Even Sicker Central Banks | ZeroHedge
The most relevant financial news and articles from the Internets
- 10 Things In Tech You Need To Know This Morning (AMZN, MSFT, FB, AAPL,... | Business Insider
- Palestinian behind Jerusalem car attack dies of... | Business Insider
- The 10 Most Important Things In The World Right Now | Business Insider
- IS attack on Syrian border town Kobane stalls... | Business Insider
- Real make Liverpool suffer, Wenger gets dramatic... | Business Insider
- Apple's Supply-Chain Secret? Hoard Lasers | BusinessWeek
- I Don't Know What Caterpillar Said In Its Earnings Video Because Of All Of The... | Business Insider