Foot Locker approves $220 million capital expenditures for 2015

New York – Foot Locker Inc. is investing in the future. The company’s board of directors has approved a $220 million capital expenditure program for 2015, maintaining the level of investment in the business that Foot Locker initiated in 2013.



In recent years, the Foot Locker has invested in a variety of strategic growth initiatives, including new store formats, continued expansion of its European banners, capabilities in its direct-to-customer segment, and various technology initiatives.



"The company sees opportunities for continued growth in the coming years through this additional deployment of capital," said Richard Johnson, president and CEO. "Our board has shown it is confident that Foot Locker has the financial resources to increase returns to shareholders, at the same time that we continue to invest directly in our business to seize opportunities to elevate our operational and financial performance."



The board also declared a quarterly cash dividend on the company's common stock of $0.25 per share, which will be payable on May 1, 2015 to shareholders of record on April 17, 2015. In addition, the board approved a new three-year, $1 billion common share repurchase program extending through January 2018, replacing the company's previous $600 million program. Foot Locker spent $305 million under the previous program in 2014.