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
- UPS Tumbles On Missed Earnings, Blames US Domestic Weakness | ZeroHedge
- Remembering The Currency Wars Of The 1920s & 1930s (And Central Banks' "Overused Bag Of Tricks") | ZeroHedge
- $43 Hot Dogs; $47 Burgers And $55 Caesar Salads: A Look At The Davos Menu | ZeroHedge
- WTI Hits $45 Handle After Treasury Secretary Lew Says "Doesn't Expect US Crude Production To Decline" | ZeroHedge
- Existing Home Sales Drop Year-Over-Year For First Time Since 2010 | ZeroHedge
- Artist's Impression Of President Obama's Thoughts During The State of The Union Speech | ZeroHedge
- Syriza Leads In 6 Polls; Leader Tsipras Shuns Merkel, Says "Won't Honor Commitments" | ZeroHedge
The most relevant financial news and articles from the Internets
- The Swiss Franc Fallout Has Only Just Begun | Business Insider
- Battle Of The Yoga Pants: Is Lululemon The Best Value? | Business Insider
- The Best Business Schools of 2011 | BusinessWeek
- A Crucial Fact About The Economics Of The Drug Trade | Business Insider
- Rio De Janeiro Is Breaking One Big... | Business Insider
- It's Going To Be A Big Problem If The Apple Watch Can't Even Last A Day (AAPL) | Business Insider
- 25 Ways to Make LinkedIn Work for You | BusinessWeek