Foot Locker Posts Higher Q4 Results with Record Annual Sales; Shares Rise (FL)
Shauna O'Brien Mar 06, 2015
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.
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.”
Foot Locker will pay its next 25 cent quarterly dividend on May 1. The stock is going ex-dividend on April 15.
Shares of FL were up $2.96, or 5.19% during premarket trading Friday. The stock is up 1.51% YTD.
The Bottom Line
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