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
- UKRaiNe UPDaTe: MeeT THe Nu PM... | ZeroHedge
- Europe Unveils Preliminary Sanctions Against Russia | ZeroHedge
- The Usual Small Cap Suspects | iBankCoin.com
- A-D Line Divergence Again | Financial Sense
- Where China Goes To Outsource Its Own Soaring Labor Costs | ZeroHedge
- Japanese Inflation Holds Near 23 Year Highs As Food, Energy, & TV Costs Soar | ZeroHedge
- China Buys U.S. Debt at Fastest Pace on Record | Financial Sense
The most relevant financial news and articles from the Internets
- People In These 11 Countries Feel More Free Than Americans | Business Insider
- These Two Social Networks Will Make You Money | Business Insider
- Experts Says It's Impossible To... | Business Insider
- DEBUNKED: 7 Common Myths About The Brain | Business Insider
- Harvard Students Just Invented Microwavable 'Spray Cake In A Can' | Business Insider
- The 50 Most Violent Cities In The World | Business Insider
- Did PTSD Really Cause A Senator To Plagiarize? | Business Insider