Foot Locker Posts Higher Q4 Results (FL)

Before Friday’s opening bell, Foot Locker (FL ) reported higher financial results for the fourth quarter and FY2014.

FL's Earnings in Brief

FL reported earnings of $146 million, or $1.01 per share, up from $121 million, or 81 cents per share, a year ago.
Non-GAAP earnings were $1.00 per share — above analysts’ estimates of 91 cents per share.
Sales for the quarter rose 6.7% to $1.91 billion from $1.79 billion last year. Analysts expected to see sales of $1.87 billion.
Full-year earnings increased to $520 million, or $3.56 per share, from $429 million, or $2.85 per share. Adjusted annual EPS was $3.58.
Total sales for 2014 increased 9.9% to $7.151 billion, marking its highest ever reported annual sales.

CEO Commentary

FL’s President and CEO Richard Johnson: “We remain intently focused on executing our key strategies.”

Continuing, “Along with elevating the level of investments in our stores, digital capabilities, support facilities, and — most importantly — our people, that focus has enabled us to develop into a high-performance company that has reached record heights of financial and operational success. In fact, we have approached or surpassed many of the goals in our most recent set of long-term objectives, and I am very proud of the entire team at Foot Locker, Inc. for this excellent accomplishment.”