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
- Uranium Is A Frustrating Business | iBankCoin.com
- This Raises a Few Eyebrows | iBankCoin.com
- Groupthink Or Black Swan Rising? Not A Single 'Economist' Expects An Economic Downturn | ZeroHedge
- Biogen Stock Rallies After Admitting Feds Probing "Sales & Promotional Practices" | ZeroHedge
- The Ultimate Cheat Sheet For Investing All of Your Money | Altucher Confidential
- Unhappy Earth Day | ZeroHedge
- Gold Slammed To Fresh 10-Week Lows Below Key Technical Level | ZeroHedge
The most relevant financial news and articles from the Internets
- Tesla's Course Looks Destined for $150 Disappointment | TheStreet.com
- Google Could End Up Paying For The Samsung/Apple Lawsuit (GOOG) | Business Insider
- VIDEO INSIDER: HBO Comes To Amazon—... | Business Insider
- Brain Implants Could Give People Perfect Memories And Night Vision | Business Insider
- ... | StreetInsider.com
- This Cheesy Video Was The First Upload On YouTube 9... | Business Insider
- Shocking Report Claims 'At Least 40' Veterans Died... | Business Insider