Before the opening bell on Friday morning, Foot Locker (FL
FL's Earnings in Brief
FL reported fourth quarter revenues of $1.79 billion, up from last year’s Q4 revenue of $1.71 billion. Net income for the quarter came in at $121 million, a substantial increase from last year’s Q4 figure of $104 million. The company's diluted EPS came in at 81 cents, up from last year’s fourth quarter EPS of 64 cents. Foot Locker was able to top analysts’ estimates of 76 cents EPS on revenues of $1.76 billion.CEO Commentary
Ken C. Hicks, FL’s chairman of the board and CEO, had the following comments: ”The driver in achieving our best-ever financial results was the excellent execution by our team of the many initiatives we have underway. 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. We believe these opportunities, such as the children’s business, our store banner.com development, the expansion of shop-in-shops in partnership with our vendors, and the improvements we are making in our assortments, should continue to drive our performance to new heights for the next few years. Specifically for 2014, we believe we can build on our momentum and generate a mid-single digit comparable sales gain and another double digit percentage increase in earnings per share.”
FL's Dividend
Foot Locker announced a raise to its quarterly payout, boosting it from 20 cents to 22 cents, on February 22. The dividend is payable on May 2 and the stock goes ex-dividend on April 15.
Stock Performance
Foot Locker’s stock is up $2.24, or 5.24%, in pre-market trading. YTD, the company’s stock is up 4.78%.
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