Boston, MA 03\/13\/2014 (wallstreetpr) – Foot Locker, Inc. (NYSE:FL) <\/b>a global shoes and apparel global retailer reported impressive earnings for full year and fourth quarter that beat estimates. The company\u2019s fourth quarter earnings surged by highs of 28% to come in at 82 cents, beating consensus estimates of 75 cents. The impressive earnings per share was driven by a 5.3% increase in comparable store sales. The global retailer sales clocked a high of $1.791 billion\u00a0\u00a0 beating consensus estimates of 1.775 billion<\/p>\n
Fourth quarter results<\/b><\/p>\n
Net income for the quarter came in at $121 million representing an increase of 19% compared to net income for the same period in 2013. Foot Locker gross profit for the quarter climbed to a high of $582 million an increase of 3.2% however, the company\u2019s gross margin was down by 50 basis points coming in at 32.5%.<\/p>\n
Full year results<\/b><\/p>\n
Foot Locker, Inc. (NYSE:FL) registered double digit rise in earnings for full year which came in at $2.87 per share an increase of 16%, compared to earnings of 2012. The company\u2019s earnings for full year was also high compared to Zacks consensus estimates of $2.79 per share. On a reported basis, Foot Locker earnings was up by 10.5% coming in at $2.85 per share<\/p>\n
Foot Locker total sales for the year was up by 5.2% clocking in at a record high of $6.51 billion and beating consensus estimates of $6.48 in the process. The surge in sales was mainly driven by a 4.2% surge in comps.<\/p>\n
\u00a0Stores update<\/b><\/p>\n
The year saw Foot Locker introducing 84 new outlets while also shutting down 140 under performing outlets and relocating 320 outlets.<\/p>\n
Foot Locker Financial<\/b><\/p>\n
Foot Locker, Inc. (NYSE:FL) closed the year with cash and cash equivalent amounting to $867 million with a debt of $139 million and total shareholders\u2019 equity of $2, 496 million. The company was also able repurchase 6.4 million of its common shares worth $229 million.<\/p>\n
Foot Locker, Inc. (NYSE:FL) was down by 1.04% on Wednesday trading session closing the day at a low of $45.69.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/13\/2014 (wallstreetpr) – Foot Locker, Inc. (NYSE:FL) a global shoes and apparel global retailer reported impressive earnings for full year and fourth quarter […]<\/p>\n","protected":false},"author":32,"featured_media":17031,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[3166,972],"stock_ticker":[],"class_list":["post-17206","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-foot-locker-inc-nysefl","tag-nysefl","entry"],"acf":[],"yoast_head":"\n