Foot Locker sets $10 billion sales goal for 2020

New York – Foot Locker Inc. is significantly raising its long-term financial objectives for 2020, including achieving sales of $10 billion. The retailer also seeks to achieve sales per gross square foot of $600, net income margin of 8.5%, EBIT margin of 12.5%, return on invested capital of 17%, and inventory turnover of three or more times.



“We have achieved three of our most recent long-range objectives and have moved closer on all the others, “said Richard Johnson, president and CEO, during a March 16 investor meeting. “As a consequence, our senior management team has recently revised the strategic framework within which to organize our growth initiatives and pursue our business priorities, and we have also raised the bar again on our long-term financial objectives."



Foot Locker also released a new set of strategic priorities. These included:



• Drive performance in the core business with compelling customer engagement.

• Expand leading position in the kids' business.

• Aggressively pursue European expansion opportunities.

• Build apparel penetration and profitability.

• Build a more powerful digital business with customer-focused channel connectivity.

• Deliver exceptional growth in the women's business.

• Build on its team by embracing the power of its people.



Foot Locker initially articulated its strategic vision in 2010 – to be the leading global retailer of athletically inspired shoes and apparel. The company also established a set of strategic priorities to achieve its vision and ambitious long-range financial objectives to measure its progress. The company updated those priorities and elevated its long-term financial goals in 2012.