World Footwear

Companies

Seventh consecutive year of growth for Foot Locker

Feb 23, 2017 United States
Seventh consecutive year of growth for Foot Locker
The New York-based specialty athletic retailer reported financial results for its fourth quarter and full year (ended on the 28th of January)
Net income for the company’s fourth quarter totaled 189 million US dollars, or 1.42 US dollars per share, compared with net income of 158 million US dollars or 1.14 US dollars per share in the same period of 2015.

Fourth quarter comparable-store sales increased by 5.0%. Total sales increased by 5.3%, totaling 2 113 million US dollars this year, compared with sales of 2 007 million US dollars for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the fourth quarter increased 6.1%.

“Generating our seventh consecutive year of meaningful sales and profit growth is a strong testament to Foot Locker, Inc.’s solid position at the center of sneaker culture,” said Richard Johnson, Chairman of the Board and Chief Executive Officer, adding: “All credit goes to the incredibly talented team of associates we have around the world, and I want to thank them sincerely for another outstanding performance in 2016”.

Sales for 2016 reached 7 766 million US dollars, an increase of 4.8% compared to sales of 7 412 million US dollars in the previous year. Full -year comparable store sales increased by 4.3%. Excluding the effect of foreign currency fluctuations, total
sales increased by 5.2%.

Foot Locker's net income increased to 664 million US dollars in 2016, or 4.91 US dollars per share, compared to net income of 541 million US dollars or 3.84 US dollars per share in 2015.

During the fourth quarter, Foot Locker opened 20 new stores, remodeled or relocated 59 stores, and closed 51 stores. As of the 28th of January 2017, the company operated a total of 3 363 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 59 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 15 franchised Runners Point stores in Germany.

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