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Foot Locker net income increased 19 percent

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Staff writer ▼ | March 7, 2014
Foot Locker reported financial results for its fourth quarter and full year ended on February 1, 2014. The company reported net income of $121 million, or $0.81 per share, for the 13 weeks ended February 1, 2014.
Foot Locker
Foot LockerFoot Locker reported financial results for its fourth quarter and full year ended on February 1, 2014. The company reported net income of $121 million, or $0.81 per share, for the 13 weeks ended February 1, 2014.


This represents an increase of 19 percent over earnings per share of $0.68 for the 14-week period ended February 2, 2013. On a non-GAAP basis, the Company earned $0.82 cents per share, a 28 percent increase over the comparable 13-week non-GAAP earnings per share of $0.64 in 2012.

Total fourth quarter sales increased 4.6 percent, to $1,791 million this year, compared with sales of $1,713 million in 2012, which included $81 million of sales in the extra week last year. Fourth quarter comparable-store sales increased 5.3 percent.

For fiscal year 2013, the Company reported net income of $429 million, or $2.85 per share. In the 53-week period in 2012, the company reported net income of $397 million, or $2.58 per share. On a non-GAAP basis, earnings were $2.87 per share in 2013, an increase of 16 percent over the $2.47 per share earned on a comparable basis in 2012.

In 2013 the company generated its fourth consecutive double digit percentage increase in annual earnings per share. It is also the third consecutive year in which the company achieved record earnings as Foot Locker, Inc.

Total sales increased 5.2 percent in 2013 to $6,505 million, the highest level of sales ever recorded by the Company as Foot Locker, Inc., compared with sales of $6,182 million last year. Comparable-store sales increased 4.2 percent in 2013.


 

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