US: Foot Locker Q4 earnings and sales climb
- Q4 earnings climb 19%
- Net sales up 4.6%
Foot Locker said it achieved its best-ever financial results
Foot Locker saw earnings and sales climb in the fourth quarter thanks to a number of initiatives implemented by the US speciality athletic retailer to drive the business.
Net income in the three months ended 1 February amounted to US$121m, an increase of 19% on the prior year period.
Sales were up 4.6% to $1.79bn, while comparable-store sales increased 5.3%.
"The driver in achieving our best-ever financial results was the excellent execution by our team of the many initiatives we have underway," said CEO Ken Hicks.
"I am very proud of the progress that the entire team at Foot Locker Inc is making towards reaching our long term goals and objectives. While we accomplished a great deal in 2013, we have many more opportunities to improve the business further."
Long-term, the company said it is eyeing opportunities such as its store remodel programme, expansion in Europe, and technology investments.
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