Foot Locker reports record sales in 2015

By

Obi Anyanwu

Published
Feb 26, 2016

Foot Locker announced on Friday the financial results for its fourth quarter and full year ended January 30, 2016.

 
The New York-based footwear retailer reported a 5% increase in total net sales in the fourth quarter to $2,007 million from $1,911 million and a net income of $158 million. Comparable store sales increased as well to 7.9%.
 
"In 2015, we continued to deliver outstanding financial performance across channels, geographies, banners, and product categories," said Richard Johnson, President and Chief Executive Officer.  "We began the year by introducing a revised strategic framework and priorities, as well as elevated long-term financial objectives.”

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Total sales for the full year increased 3.6% to a record $7,412 million compared to sales of $7,151 million in 2014. Comparable-store sales also increased 8.5%. 2015 marks as the company’s sixth consecutive double-digit percentage increase in annual earnings per share and its fifth consecutive year of record earnings.
 
"We recorded many all-time best performances for our Company in 2015, including reaching an adjusted Earnings Before Interest and Taxes rate of 12.8 percent," stated Lauren Peters, Executive Vice President and Chief Financial Officer.  "We remain focused on productivity, boosting our Return On Invested Capital to 15.8 percent and our sales per gross square foot to $504.
 
Foot Locker announced last week that its Board of Directors authorized a double-digit percentage increase in the company’s quarterly dividend, to 27.5 cents per share, and approved a $297 million capital expenditure program for 2016.