Foot Locker has tough Q3, but does the dividend yield mean anything? - Steven Mallas

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Foot Locker has tough Q3, but does the dividend yield mean anything?
Nov 20, 2009 04:00 PM UTC

Steven Mallas

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Symbol	Sentiment	Start	Return	Closed
PSS	n/a
FL	n/a
WMT	n/a

Via BloggingStocks:

Filed under: Earnings reports, Wal-Mart (WMT)

Foot Locker (FL), which competes against Collective Brands (PSS) and Wal-Mart (WMT) for a share of the shoe industry, issued a Q3 report on Thursday after the bell that was typical of many retailers: declining sales and dismal profits. Sometimes, the market is in the mood to ignore such grim news, but such indifference is usually predicated on an earnings beat. Unfortunately, this was not the case for the New York-based specialty athletic retailer.

On an adjusted basis, per-share profit dropped over 40% to 10 cents per share. Analysts were looking for 13 cents per share, according to Earnings.com. Same-store sales took a dive of 8.2%.

Continue reading Foot Locker has tough Q3, but does the dividend yield mean anything?

Foot Locker has tough Q3, but does the dividend yield mean anything? originally appeared on BloggingStocks on Fri, 20 Nov 2009 11:00:00 EST. Please see our terms for use of feeds.

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