Continuing today's retail extravaganza, we have Foot Locker , which reported a third-quarter loss of $33 million, or 22 cents per share, compared to its year-ago profit of $65 million, or 42 cents per share. Excluding a one-time impairment charge and store closure expenses, the company would have raked in a profit of 21 cents per share for the latest quarter. Sales during the 3-month period dropped to $1.36 billion. Analysts had predicted a profit of 24 cents per shares on sales of $1.43 billion.
It doesn't look like its going to be a good day for retailers. The shares of FL have dropped 1.6% this morning and have tagged a fresh annual low of $11.78. Unfortunately, today's doesn't mark the start of the security's downtrend. The equity is currently down 43% since the start of 2007.
Meanwhile, options players remain rather complacent in their outlook for the footwear guru. Schaeffer's put/call open interest ratio for FL sits at 0.69 and is higher than only 58% of all those taken during the past 52 weeks.