Foot Locker profits Q3 up 15%

New York - Foot Locker Inc. reported net income of $120 million in the third quarter of fiscal 2014, a 13% gain from $104 million in the year-ago period. Higher pretax income aided Foot Locker’s profit growth.



Total sales increased 6.7% to $1.73 million, compared with $1.62 million in the year-ago period. Same-store sales rose 6.9%.



Foot Locker CEO and industry veteran Ken Hicks plans to retire at the end of November. His successor, executive VP and COO Richard Johnson, will become CEO on Dec. 1.



"The company is well positioned to build on the momentum the team has created over the last several years," said Johnson. "It will be a tremendous privilege to lead the organization as we leverage our strengths, which include our global scope, our banner differentiation, our omnichannel capabilities, and our people, in pursuit of the exciting opportunities we have identified to grow and improve the business in the near and long term."