On Monday analysts at Janney reported on Black Friday traffic
and sales which could lead to positive Holiday sales expectations
for companies like Foot Locker, Inc. (
FL
), Finish Line Inc. (
FINL
), and Dicks Sporting Goods Inc. (
DKS
).
Overall, analyst Eric Tracy said that traffic on Black Friday
was lighter than in years past, but this could be due to a
migration to online shopping as well as extending hours at various
malls and retail stores.
Mr. Tracy also commented that athletic apparel and footwear
companies like Foot Locker, Finish Line, and Dicks Sporting Goods
all saw positive results, especially due to the basketball apparel
sales among all three companies. Foot Locker benefited from
increased product releases and Finish Line increased promotional
stance which increased consumer attention. Dicks should see a boost
from increased sales in seasonal items like fleece clothing and
firearms.
Foot Locker, Finish Line, and Dicks shares were flat in
premarket trading on Monday.
The Bottom Line
Shares of Foot Locker (
FL
) have a 2.07% dividend yield, based on Friday's closing stock
price of $34.82. The stock has technical support in the $30-$32
price area. If the shares can firm up, we see overhead resistance
around the $36-$37 price levels. Shares of Dick's Sporting Goods (
DKS
) have a .96%% dividend yield, based on Friday's closing stock
price of $51.97. The stock has technical support in the $46-$48
price area. If the shares can firm up, we see overhead resistance
around the $54 price level. Shares of Finish Line (
FINL
) have a 1.12% dividend yield, based on Friday's closing stock
price of $21.41. The stock has technical support in the $18-$19
price area. If the shares can firm up, we see overhead resistance
around the $23-$24 price levels.
Foot Locker, Inc. (
FL
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars. Finish Line Inc. (
FINL
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars. Dicks Sporting Goods Inc. (
DKS
) is not recommended at this time, holding a Dividend.com DARS™
Rating of 3.4 out of 5 stars.
Be sure to visit our complete recommended list of the
Best Dividend Stocks
, as well as a detailed explanation of
our ratings system here
.