Horizon Pharma (NASDAQ: HZNP), Fusion-Io Inc. (NYSE: FIO), Foot Locker (NYSE: FL), Francesca’s (NASDAQ: FRAN), Hibbett Sports, Inc. (NASDAQ: HIBB), interCLICK Inc (NASDAQ: ICLK) and JDS Uniphase Co. (NASDAQ: JDSU) getting new coverage from analysts.
Auriga initiated coverage on Fusion-Io Inc. (FIO). They placed a “Sell” rating and a price target of $16.00 on the company.
Canaccord Genuity initiated coverage on Foot Locker (FL). They placed a “Buy” rating and a price target of $28.00 on the company.
JPMorgan Chase & Co. (NYSE:JPM) initiated coverage on Francesca’s (FRAN). They placed a “Neutral” rating on the company.
Canaccord Genuity initiated coverage on Hibbett Sports, Inc. (HIBB). They placed a “Hold” rating and a price target of $39.00 on the company.
JMP Securities initiated coverage on Horizon Pharma (HZNP). They placed an “Outperform” rating and a price target of $16.00 on the company.
Ladenburg Thalmann initiated coverage on interCLICK Inc. (ICLK). They placed a “Buy” rating and a price target of $10.00 on the company.
Kaufman Brothers initiated coverage on JDS Uniphase Co. (JDSU). They placed a “Hold” rating and a price target of $14.50 on the company.
Showing posts with label Foot Locker. Show all posts
Showing posts with label Foot Locker. Show all posts
Thursday, September 8, 2011
Tuesday, September 6, 2011
Valero (VLO) (DFS) (SCHW) (ESL) (HRB) (FL) (FNSR) EPS Estimates Changed
Valero Energy Co. (NYSE: VLO), Discover Financial Services (NYSE: DFS), Charles Schwab (NASDAQ: SCHW), Esterline Technologies Co. (NYSE: ESL), H&R Block, Inc. (NYSE: HRB), Foot Locker (NYSE: FL) and Finisar (NASDAQ: FNSR) EPS estimates adjusted by analysts.
Morgan Stanley (NYSE:MS) raised its EPS estimates on Valero Energy Co. (VLO). TheY have an “Equal Weight” rating and a price target of $29.00 on the company.
Credit Suisse (NYSE:CS) boosted its EPS estimates on Discover Financial Services (DFS). They have a “Neutral” rating and a price target of $28.00 on the company.
Goldman Sachs (NYSE:GS) increased its EPS estimates on Charles Schwab (SCHW). They have a “Neutral” rating and a price target of $14.00 on the company.
Credit Suisse lowered its EPS estimates on Esterline Technologies Co. (ESL). They have an “Outperform” rating and a price target of $87.00 on the company.
Oppenheimer cut its EPS estimates on H&R Block, Inc. (HRB). They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) raised its EPS estimates on Foot Locker (FL). They have a “Neutral” rating and a price target of $22.00 on the company.
Morgan Stanley raised its EPS estimates on Finisar (FNSR). They have an “Overweight” rating and a price target of $22.00 on the company.
Morgan Stanley (NYSE:MS) raised its EPS estimates on Valero Energy Co. (VLO). TheY have an “Equal Weight” rating and a price target of $29.00 on the company.
Credit Suisse (NYSE:CS) boosted its EPS estimates on Discover Financial Services (DFS). They have a “Neutral” rating and a price target of $28.00 on the company.
Goldman Sachs (NYSE:GS) increased its EPS estimates on Charles Schwab (SCHW). They have a “Neutral” rating and a price target of $14.00 on the company.
Credit Suisse lowered its EPS estimates on Esterline Technologies Co. (ESL). They have an “Outperform” rating and a price target of $87.00 on the company.
Oppenheimer cut its EPS estimates on H&R Block, Inc. (HRB). They have a “Market Perform” rating on the company.
UBS AG (NYSE:UBS) raised its EPS estimates on Foot Locker (FL). They have a “Neutral” rating and a price target of $22.00 on the company.
Morgan Stanley raised its EPS estimates on Finisar (FNSR). They have an “Overweight” rating and a price target of $22.00 on the company.
Friday, September 2, 2011
Charles Schwab (SCHW) (FL) (FNSR) (GS) (HRB) (PRSP) Estimates Changed
Charles Schwab (NYSE:SCHW), Foot Locker (NYSE:FL), Finisar (NASDAQ:FNSR), Goldman Sachs (NYSE:GS), H&R Block (NYSE:HRB) and Prosperity Bancshares (NASDAQ:PRSP) estimates adjusted by analysts.
Goldman Sachs raised its estimates on Charles Schwab (SCHW) through 2013. They have a "Neutral" rating and a price target of $14 on the company.
UBS (NYSE:UBS) raised its estimates on Foot Locker (FL). They have a "Neutral" rating and price target of $22 on the company.
Morgan Stanley (NYSE:MS) boosted its estimates on Finisar (FNSR) through 2014. They have an "Overweight" rating and price target of $22 on the company.
Credit Suisse (NYSE:CS) lowered its estimates on Goldman Sachs (GS) through 2013. They have an "Outperform" rating and price target of $170 on the company.
Oppenheimer cut its estimates on H&R Block (HRB) through 2012. They reiterated a "Perform" rating on the company.
Sterne Agee lowered it estimates on Prosperity Bancshares (PRSP) through 2013. They cited valuation as the catalyst behind the call. They have a "Neutral" rating on the company.
Goldman Sachs raised its estimates on Charles Schwab (SCHW) through 2013. They have a "Neutral" rating and a price target of $14 on the company.
UBS (NYSE:UBS) raised its estimates on Foot Locker (FL). They have a "Neutral" rating and price target of $22 on the company.
Morgan Stanley (NYSE:MS) boosted its estimates on Finisar (FNSR) through 2014. They have an "Overweight" rating and price target of $22 on the company.
Credit Suisse (NYSE:CS) lowered its estimates on Goldman Sachs (GS) through 2013. They have an "Outperform" rating and price target of $170 on the company.
Oppenheimer cut its estimates on H&R Block (HRB) through 2012. They reiterated a "Perform" rating on the company.
Sterne Agee lowered it estimates on Prosperity Bancshares (PRSP) through 2013. They cited valuation as the catalyst behind the call. They have a "Neutral" rating on the company.
Wednesday, August 17, 2011
Devon (DVN) (PH) (NE) (ESV) (FL) (PDC) Price Targets Changed
Devon Energy Co. (NYSE: DVN), Parker-Hannifin Co. (NYSE: PH), Noble Corporation (NYSE: NE), ENSCO PLC (NYSE: ESV), Foot Locker (NYSE: FL) and Pioneer Drilling Company (NYSE: PDC) have price targets adjusted by analysts.
Parker-Hannifin Co. (PH) had its price target lowered by Credit Suisse (NYSE:CS) to $90.00. They have an “Outperform” rating on the company.
Devon Energy Co. (DVN) had its price target lowered by Oppenheimer to $86.00. They have an “Outperform” rating on the company.
Noble Corporation (NE) had its price target lowered by Morgan Keegan from $46.00 to $42.00. They have an “Outperform” rating on the company.
ENSCO PLC (ESV) had its price target lowered by Morgan Keegan from $64.00 to $59.00. They have an “Outperform” rating on the company.
Foot Locker (FL) had its price target lowered by Jefferies (NYSE:JEF)to $22.00. They have a “Hold” rating on the company.
Pioneer Drilling Company (PDC) had its price target lowered by Morgan Keegan from $20.00 to $16.50. They have an “Outperform” rating on the company.
Parker-Hannifin Co. (PH) had its price target lowered by Credit Suisse (NYSE:CS) to $90.00. They have an “Outperform” rating on the company.
Devon Energy Co. (DVN) had its price target lowered by Oppenheimer to $86.00. They have an “Outperform” rating on the company.
Noble Corporation (NE) had its price target lowered by Morgan Keegan from $46.00 to $42.00. They have an “Outperform” rating on the company.
ENSCO PLC (ESV) had its price target lowered by Morgan Keegan from $64.00 to $59.00. They have an “Outperform” rating on the company.
Foot Locker (FL) had its price target lowered by Jefferies (NYSE:JEF)to $22.00. They have a “Hold” rating on the company.
Pioneer Drilling Company (PDC) had its price target lowered by Morgan Keegan from $20.00 to $16.50. They have an “Outperform” rating on the company.
Thursday, May 19, 2011
Dividends on (CTL) (FL) (FRME) (HBHC) (HBOS) Declared
CenturyLink, Inc. (NYSE:CTL), Foot Locker Inc. (NYSE:FL), First Merchants Corp (NASDAQ:FRME), Hancock Holdings Co. (NASDAQ:HBHC) and Heritage Financial (NASDAQ:HBOS) declare dividends.
The Board of Directors of CenturyLink, Inc. (CTL) declared a quarterly common stock dividend of $0.725 per share payable 6/16/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Foot Locker Inc. (FL) declared a quarterly common stock dividend of $0.165 per share payable 7/29/11 to shareholders of record at the close of business on 7/15/11.
The Board of Directors of First Merchants Corp (NASDAQ:FRME) declared a quarterly common stock dividend of $0.01 per share payable 6/20/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Hancock Holdings Co. (NASDAQ:HBHC) declared a second quarter common stock dividend of $0.24 per share payable 6/15/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Heritage Financial (NASDAQ:HBOS) declared a quarterly common stock dividend of $0.03 per share payable 6/24/11 to shareholders of record at the close of business on 6/10/11.
The Board of Directors of CenturyLink, Inc. (CTL) declared a quarterly common stock dividend of $0.725 per share payable 6/16/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Foot Locker Inc. (FL) declared a quarterly common stock dividend of $0.165 per share payable 7/29/11 to shareholders of record at the close of business on 7/15/11.
The Board of Directors of First Merchants Corp (NASDAQ:FRME) declared a quarterly common stock dividend of $0.01 per share payable 6/20/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Hancock Holdings Co. (NASDAQ:HBHC) declared a second quarter common stock dividend of $0.24 per share payable 6/15/11 to shareholders of record at the close of business on 6/6/11.
The Board of Directors of Heritage Financial (NASDAQ:HBOS) declared a quarterly common stock dividend of $0.03 per share payable 6/24/11 to shareholders of record at the close of business on 6/10/11.
Tuesday, May 17, 2011
EPS on (ESV) (FL) (HNZ) (HPQ) (JCI) (MHK) Updated
EPS on ENSCO PLC (NYSE: ESV), Foot Locker (NYSE: FL), H.J. Heinz Company (NYSE: HNZ), Hewlett-Packard (NYSE: HPQ), Johnson Controls, Inc. (NYSE: JCI) and Mohawk Industries, Inc. (NYSE: MHK) were updated by analysts.
Credit Suisse (NYSE:CS) raised their EPS estimate on ENSCO PLC (ESV). They have an “outperform” rating and a price target of $3.80 on the company. They had had a price target of $5.75 on the company.
UBS AG (NYSE:UBS) raised their EPS estimate on Foot Locker (FL). They have a “neutral” rating and a price target of $22.00 on the company. They had had a price target of $21.00 on the company.
Morgan Stanley (NYSE:MS) raised their EPS estimate on H.J. Heinz Company (HNZ). They have an “overweight” rating on the company.
Sterne Agee cut their EPS estimate on Hewlett-Packard (HPQ). They have a “buy” rating and a price target of $53.00 on the company.
Morgan Stanley raised their EPS estimate on Johnson Controls, Inc. (JCI). They have an “overweight” rating and a price target of $52.00 on the company.
Goldman Sachs (NYSE:GS) raised their EPS estimate on Mohawk Industries, Inc. (MHK). They have a “neutral” rating and a price target of $57.00 on the company.
Credit Suisse (NYSE:CS) raised their EPS estimate on ENSCO PLC (ESV). They have an “outperform” rating and a price target of $3.80 on the company. They had had a price target of $5.75 on the company.
UBS AG (NYSE:UBS) raised their EPS estimate on Foot Locker (FL). They have a “neutral” rating and a price target of $22.00 on the company. They had had a price target of $21.00 on the company.
Morgan Stanley (NYSE:MS) raised their EPS estimate on H.J. Heinz Company (HNZ). They have an “overweight” rating on the company.
Sterne Agee cut their EPS estimate on Hewlett-Packard (HPQ). They have a “buy” rating and a price target of $53.00 on the company.
Morgan Stanley raised their EPS estimate on Johnson Controls, Inc. (JCI). They have an “overweight” rating and a price target of $52.00 on the company.
Goldman Sachs (NYSE:GS) raised their EPS estimate on Mohawk Industries, Inc. (MHK). They have a “neutral” rating and a price target of $57.00 on the company.
Monday, May 16, 2011
Ratings on (QCOR) (ADES) (FL) (CSCO) (PCP) Reiterated
Ratings on shares of Questcor (NASDAQ:QCOR), ADA-ES (NASDAQ:ADES), Foot Locker (NYSE:FL), Cisco Systems (NASDAQ:CSCO) and Precision Castparts (NYSE:PCP) reiterated by analysts.
Oppenheimer reiterated an "Outperform" rating on Questcor (QCOR). They raised their price target on the company from $23 to $27.
Wedbush reiterated an "Outperform" rating on ADA-ES (ADES). They lowered their price target on the company from $21 to $13.
Wedbush reiterated an "Outperform" rating on Foot Locker (FL). They raised their price target on the company from $23 to $26.
Feltl & Co. reiterated a "Buy" rating on Cisco Systems (CSCO). They raised their price target on the company from $20.50 to $23.
Stifel Nicolaus reiterated a "Buy" rating on Precision Castparts (PCP). They raised their price target on the company from $175 to $180.
Oppenheimer reiterated an "Outperform" rating on Questcor (QCOR). They raised their price target on the company from $23 to $27.
Wedbush reiterated an "Outperform" rating on ADA-ES (ADES). They lowered their price target on the company from $21 to $13.
Wedbush reiterated an "Outperform" rating on Foot Locker (FL). They raised their price target on the company from $23 to $26.
Feltl & Co. reiterated a "Buy" rating on Cisco Systems (CSCO). They raised their price target on the company from $20.50 to $23.
Stifel Nicolaus reiterated a "Buy" rating on Precision Castparts (PCP). They raised their price target on the company from $175 to $180.
Friday, May 13, 2011
Price Targets on (CA) (FDX) (FL) (HPJ) (HWAY) Updated
Price targets on CA Tech (NYSE: CA), FedEx (NYSE: FDX), Foot Locker (NYSE: FL), Hong Kong Highpower (NYSE: HPJ) and Healthways, Inc. (NASDAQ: HWAY) were updated by analysts.
Needham & Company raised their price target on CA Tech (CA) from $27.00 to $29.00. They have a “buy” rating on the company.
Stifel Nicolaus raised their price target on FedEx (FDX) from $116.00 to $120.00.
Wedbush raised their price target on Foot Locker (FL) from $23.00 to $26.00.
Rodman & Renshaw cut their price target on Hong Kong Highpower (HPJ) from $7.00 to $4.00. They have an “outperform” rating on the company.
FBR Capital raised their price target on Healthways, Inc. (HWAY) from $17.00 to $19.00. They have an “outperform” rating on the company.
Needham & Company raised their price target on CA Tech (CA) from $27.00 to $29.00. They have a “buy” rating on the company.
Stifel Nicolaus raised their price target on FedEx (FDX) from $116.00 to $120.00.
Wedbush raised their price target on Foot Locker (FL) from $23.00 to $26.00.
Rodman & Renshaw cut their price target on Hong Kong Highpower (HPJ) from $7.00 to $4.00. They have an “outperform” rating on the company.
FBR Capital raised their price target on Healthways, Inc. (HWAY) from $17.00 to $19.00. They have an “outperform” rating on the company.
Tuesday, January 4, 2011
Medifast (NYSE:MED), JAKKS Pacific (Nasdaq:JAKK), Pier 1 Imports (NYSE:PIR), Dollar Tree (Nasdaq:DLTR), Sotheby's (NYSE:BID) Among Top Picks of Wedbus
In the Consumer/Retail space, Wedbush released its top picks and those that may be a disaster in 2011. Among the top picks are Medifast (NYSE:MED), JAKKS Pacific (Nasdaq:JAKK), Pier 1 Imports (NYSE:PIR), Dollar Tree (Nasdaq:DLTR) and Sotheby's (NYSE:BID)
Particularly noted in the luxury space was Sotheby's, which, along with other luxury retailers, is being watched closely to see if the more affluent are starting to spend again.
Also listed among their favorites were Children's Place (Nasdaq:PLCE), Talbots (NYSE:TLB) and Foot Locker (NYSE:FL).
Those with a good chance of underperforming in 2011 include American Eagle (NYSE:AEO), Family Dollar (NYSE:FDO) and Helen of Troy (Nasdaq:HELE).
Particularly noted in the luxury space was Sotheby's, which, along with other luxury retailers, is being watched closely to see if the more affluent are starting to spend again.
Also listed among their favorites were Children's Place (Nasdaq:PLCE), Talbots (NYSE:TLB) and Foot Locker (NYSE:FL).
Those with a good chance of underperforming in 2011 include American Eagle (NYSE:AEO), Family Dollar (NYSE:FDO) and Helen of Troy (Nasdaq:HELE).
Thursday, December 30, 2010
Foot Locker (NYSE:FL) Driven by Positive Basketball Commentary, Stronger Margins
Trends are favoring the footwear segment, and Foot Locker (NYSE:FL) is positioned strongly to take advantage of that, as well as generating better margins through fewer large promotions.
Wedbush said, "FL is well positioned to capitalize on renewed interest in the category. In addition, positive basketball commentary from FINL's Q3 results also points to an improving trend in the category."
They maintain their "Outperform" rating on Foot Locker, which closed Wednesday at $19.76, up $0.34, or 1.75 percent. Wedbush raised their price target on them to $23.
Wedbush said, "FL is well positioned to capitalize on renewed interest in the category. In addition, positive basketball commentary from FINL's Q3 results also points to an improving trend in the category."
They maintain their "Outperform" rating on Foot Locker, which closed Wednesday at $19.76, up $0.34, or 1.75 percent. Wedbush raised their price target on them to $23.
Thursday, December 23, 2010
Foot Locker (NYSE:FL) FBR Top List Pick, Hanesbrands (NYSE:HBI)Removed
While FBR continues to like what Hanesbrands (NYSE:HBI) has done to deal with soaring cotton prices, they still believe it may take time for them to implement the changes, and have placed Foot Locker (NYSE:FL) as their as their "Top List Pick" while removing Hanesbrand.
FBR said, "With strong proxy data points out of competitor Finish Line (Nasdaq:FINL) and, more importantly, vendor partner Nike (NYSE:NKE), which posted North American futures orders +16% (sequentially accelerating from +15% in 2Q), we move Foot Locker to the FBR Top Picks list...While we continue to be constructive on Hanesbrands (OP-rated), with cotton prices at historic highs, near-term catalysts are lacking to offset the overhang (more sentiment than fundamentals, in our view) on shares. We continue to believe Hanesbrands is better positioned than most apparel vendors to handle product cost inflation— it has bought/hedged out cotton better and longer, implemented price increases, and maintained more supply chain levers to offset inflationary pressures. As a result, we believe fundamentals should hold up better than most, but this may take time to play out. That said, a material reversal in cotton prices over the near term could be a major catalyst for HBI shares."
FBR Capital maintains an "Outperform" rating on Foot Locker, which closed Wednesday at $19.54, down $0.27, or 1.36 percent. Hanesbrands closed at $24.94, down $0.42, or 1.66 percent. FBR raised their price target on Foot Locker from $21 to $23.
FBR said, "With strong proxy data points out of competitor Finish Line (Nasdaq:FINL) and, more importantly, vendor partner Nike (NYSE:NKE), which posted North American futures orders +16% (sequentially accelerating from +15% in 2Q), we move Foot Locker to the FBR Top Picks list...While we continue to be constructive on Hanesbrands (OP-rated), with cotton prices at historic highs, near-term catalysts are lacking to offset the overhang (more sentiment than fundamentals, in our view) on shares. We continue to believe Hanesbrands is better positioned than most apparel vendors to handle product cost inflation— it has bought/hedged out cotton better and longer, implemented price increases, and maintained more supply chain levers to offset inflationary pressures. As a result, we believe fundamentals should hold up better than most, but this may take time to play out. That said, a material reversal in cotton prices over the near term could be a major catalyst for HBI shares."
FBR Capital maintains an "Outperform" rating on Foot Locker, which closed Wednesday at $19.54, down $0.27, or 1.36 percent. Hanesbrands closed at $24.94, down $0.42, or 1.66 percent. FBR raised their price target on Foot Locker from $21 to $23.
Tuesday, November 30, 2010
The Finish Line (Nasdaq:FINL), Foot Locker (NYSE:FL), Dick's Sporting Goods (NYSE:DKS), True Religion (Nasdaq:TRLG), VF Corp (NYSE:VFC) Performing As Expected
FBR Capital said after visiting the physical locations of retailers like The Finish Line (Nasdaq:FINL), Foot Locker (NYSE:FL), Dick's Sporting Goods (NYSE:DKS), True Religion (Nasdaq:TRLG) and VF Corp (NYSE:VFC), they see the stores performing as they thought they would during Black Friday, with The Finish Line, Foot Locker and Dick's Sporting Goods enjoying significant traffic.
"On Black Friday, we visited stores in the Washington, D.C. metro area, including retail locations of The Finish Line (Nasdaq: FINL)(Outperform), Foot Locker (Outperform), Dick's Sporting Goods (Outperform), True Religion (Outperform), and VF Corp's (Market Perform) The North Face...We did not expect Black Friday traffic at any of our targeted stores to be "newsworthy" given that these stores are not doorbuster destinations offering loss-leading items or major discounts, particularly in light of inventory positions supportive of full-price selling. We also believe that an ongoing shift to online holiday sales and discounting earlier in the shopping season are chipping away at Black Friday's importance to overall brick and mortar apparel and footwear holiday sales.
"Relative to overall mall traffic, traffic at Finish Line and Foot Locker stores was strong. Traffic at Dick's Sporting Goods was also robust. At the Georgetown location of The North Face and the Georgetown and Pentagon City locations of True Religion, in-store traffic was relatively light. Lighter traffic at The North Face and True Religion did not surprise or concern us, given that these are not traditional Black Friday destinations as a result of their premium price points and lack of discounting.
"Overall, what we saw on Black Friday did not sway our thesis on any of our covered companies, but reinforced our positive view of athletic footwear retailers, given what we expect to be continued top-line momentum on solid margins. We think limited and targeted discounting at Finish Line and Foot Locker bode well for gross margins, while the strong product cycle in athletic footwear should continue to support the top line, even in the face of difficult year-over-year comparisons."
The Finish Line closed Monday at $17.57, dropping $0.18, or 1.01 percent. Footlocker ended the session at $19.05, gaining $0.40, or 2.14 percent. Dicks Sporting Goods was at $34.38. falling $0.35, or 1.01 percent. True Religion Apparel closed up at $22.80, increasing by $0.13, or 0.57 percent. V.F. Corporation closed at $83.33, down by $0.49, or 0.58 percent.
"On Black Friday, we visited stores in the Washington, D.C. metro area, including retail locations of The Finish Line (Nasdaq: FINL)(Outperform), Foot Locker (Outperform), Dick's Sporting Goods (Outperform), True Religion (Outperform), and VF Corp's (Market Perform) The North Face...We did not expect Black Friday traffic at any of our targeted stores to be "newsworthy" given that these stores are not doorbuster destinations offering loss-leading items or major discounts, particularly in light of inventory positions supportive of full-price selling. We also believe that an ongoing shift to online holiday sales and discounting earlier in the shopping season are chipping away at Black Friday's importance to overall brick and mortar apparel and footwear holiday sales.
"Relative to overall mall traffic, traffic at Finish Line and Foot Locker stores was strong. Traffic at Dick's Sporting Goods was also robust. At the Georgetown location of The North Face and the Georgetown and Pentagon City locations of True Religion, in-store traffic was relatively light. Lighter traffic at The North Face and True Religion did not surprise or concern us, given that these are not traditional Black Friday destinations as a result of their premium price points and lack of discounting.
"Overall, what we saw on Black Friday did not sway our thesis on any of our covered companies, but reinforced our positive view of athletic footwear retailers, given what we expect to be continued top-line momentum on solid margins. We think limited and targeted discounting at Finish Line and Foot Locker bode well for gross margins, while the strong product cycle in athletic footwear should continue to support the top line, even in the face of difficult year-over-year comparisons."
The Finish Line closed Monday at $17.57, dropping $0.18, or 1.01 percent. Footlocker ended the session at $19.05, gaining $0.40, or 2.14 percent. Dicks Sporting Goods was at $34.38. falling $0.35, or 1.01 percent. True Religion Apparel closed up at $22.80, increasing by $0.13, or 0.57 percent. V.F. Corporation closed at $83.33, down by $0.49, or 0.58 percent.
Tuesday, November 23, 2010
Foot Locker (NYSE:FL) Should Continue Strong Sales and Margins
The third-quarter results of Foot Locker (NYSE:FL) should continue their momentum into the fourth quarter, says FBR Capital, driven by strong margins and sales.
FBR said, "Our FL thesis kicked into gear in 3Q, with solid execution against a strong athletic footwear cycle (now catalyzed by an emerging basketball trend) and easier compares that support material re-leveraging of the operating model driving a huge upside print. Better merchandising with greater differentiation between store concepts and superior flow of product, an emergence of a number of product catalysts in basketball (40%–50% of FL's mix), continued strength in running (as toning continues to evolve), and an apparel category that may be on the verge of sustaining positive comps (that is more profitable through mix shifts) are driving the top line, while strong inventory control, fewer and less aggressive promotional events, and a more-productive store base as a result of underperforming store closures/favorable lease negotiations bolster margins."
Foot Locker closed Monday at $18.37, gaining $0.02, or 0.11 percent. FBR has a price target of $21 on the company, along with an "Outperform" rating.
FBR said, "Our FL thesis kicked into gear in 3Q, with solid execution against a strong athletic footwear cycle (now catalyzed by an emerging basketball trend) and easier compares that support material re-leveraging of the operating model driving a huge upside print. Better merchandising with greater differentiation between store concepts and superior flow of product, an emergence of a number of product catalysts in basketball (40%–50% of FL's mix), continued strength in running (as toning continues to evolve), and an apparel category that may be on the verge of sustaining positive comps (that is more profitable through mix shifts) are driving the top line, while strong inventory control, fewer and less aggressive promotional events, and a more-productive store base as a result of underperforming store closures/favorable lease negotiations bolster margins."
Foot Locker closed Monday at $18.37, gaining $0.02, or 0.11 percent. FBR has a price target of $21 on the company, along with an "Outperform" rating.
Monday, November 22, 2010
Foot Locker (NYSE:FL) Merchandising Strategies Working
Foot Locker (NYSE:FL) outperformed even optimistic expectations in the third quarter, with FBR saying the merchandising strategies of the company have been wildly successful.
FBR said, "We knew the potential for nice upside to 3Q was likely, but results surpassed even our/market bullish expectations as a better-than-expected comp, gross margin and SG&A leverage supported the material beat. Clearly merchandise strategies are working, allowing FL to more fully participate in the ongoing strong athletic footwear cycle (centered on running and training) which is getting a boost from the emerging basketball trend (40%-50% of FL mix tied to basketball). Better mix (initiatives to drive profitability in apparel), tight inventory controls and greater leverage of occupancy (supported by closing underperforming doors and more favorable lease terms) appear to be catalyzing gross margin gains, while cost saving initiatives and greater leverage of fixed costs further support an enhancing margin structure. Taken together, our thesis in the name, focused on turning comps positive and re-leveraging of the operating model, appears to be playing out nicely. A building cash position ($3.46/shr), 5% dividend yield and 6% FCF yield add to the story."
Foot Locker closed Friday at $18.35, gaining $1.91, or 11.62 percent.
FBR said, "We knew the potential for nice upside to 3Q was likely, but results surpassed even our/market bullish expectations as a better-than-expected comp, gross margin and SG&A leverage supported the material beat. Clearly merchandise strategies are working, allowing FL to more fully participate in the ongoing strong athletic footwear cycle (centered on running and training) which is getting a boost from the emerging basketball trend (40%-50% of FL mix tied to basketball). Better mix (initiatives to drive profitability in apparel), tight inventory controls and greater leverage of occupancy (supported by closing underperforming doors and more favorable lease terms) appear to be catalyzing gross margin gains, while cost saving initiatives and greater leverage of fixed costs further support an enhancing margin structure. Taken together, our thesis in the name, focused on turning comps positive and re-leveraging of the operating model, appears to be playing out nicely. A building cash position ($3.46/shr), 5% dividend yield and 6% FCF yield add to the story."
Foot Locker closed Friday at $18.35, gaining $1.91, or 11.62 percent.
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