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Foot Locker (FL) operates as a retailer of athletic footwear and apparel. The company operates in two segments, Athletic Stores and Direct-to-Customers.
The Athletic Stores segment retails athletic footwear, apparel, accessories, and equipment under various formats, including Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports, Footaction, and CCS.
As of January 28, 2012, it operated 3,369 stores in 23 countries in North America, Europe, Australia, and New Zealand. The Direct-to-Customers segment includes CCS and Footlocker.com, Inc. that sell athletic footwear, apparel, equipment, team licensed products, and private-label merchandise through catalogs, mobile devices, and Internet Websites.
The company also provides franchise licenses to open and operate its Foot Locker stores in the Middle East and the Republic of Korea. It operated 34 franchised stores. Shares have formed a bullish "Cup and Handle" and are expected to move higher out of this formation.
We are now hearing rumors of good news for this company. One of the rumors states that this stock will be named by the leading stock advisory service as one of its "top picks." This service is widely followed by mutual funds and institutional money managers. These investors have portfolios that mimic recommendations of this service. Their naming of the stock should lead to additional demand for the shares.
52-Week Trading Range: $18.30 - $35.81
Last Trade: $34.39
Stop Loss: $32.67
Price Target: $37.83
Foot Lockers (FL) only gained a few percentage points. We closed the position as our 30-days limit is approached. If you are a longer term investor, you should hold on. Otherwise, consider moving the proceeds to a stock that may move higher quicker!
