Foot Locker reports healthy Q4 sales, profit

The CEO of Foot Locker credits the company's revised strategic framework with single digit sales gains and double digit earnings gains in the fourth quarter.



For the period ended Jan. 30, Foot Locker reported net Income of $1.14 per share, a 13% increase from the prior year quarter. Earnings per share were $1.16, 16% above last year. Same-store sales increased 7.9%.



"In 2015, we continued to deliver outstanding financial performance across channels, geographies, banners, and product categories," said Richard Johnson, president and CEO. "We began the year by introducing a revised strategic framework and priorities, as well as elevated long-term financial objectives. I could not be more proud of the progress the team has made developing leadership positions in so many areas of our business.



For the full year, total sales increased 3.6 % in 2015 to $7,412 million, the highest level of sales ever recorded by the company as Foot Locker, Inc., compared with sales of $7,151 million in 2014. Same-store sales increased 8.5% in 2015.



"Building on those leadership positions, we believe we can continue to elevate our financial performance in 2016 by generating a mid-single digit comparable sales gain and another double digit percentage increase in earnings per share," added Johnson.



In fiscal 2015 the company opened 111 new stores, remodeled or relocated 209 stores, and closed 151 stores during fiscal 2015. As of Jan. 30, the company operated 3,383 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 48 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 16 franchised Runners Point stores in Germany.