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Feb. 28, 2020, 9:43 a.m. EST

Foot Locker Out with Figures

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    Foot Locker Inc. (FL)

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Feb 28, 2020 (Baystreet.ca via COMTEX) -- Foot Locker, Inc. /zigman2/quotes/204092533/composite FL -0.45% dipped Friday on quarterly and yearly financial information.

The New York-based company reported net income of $141 million, or $1.34 per share, for the 13 weeks ended February 1, 2020, a decline of 3.6% in earnings per share as compared with net income of $158 million, or $1.39 per share, for the corresponding prior-year period. On a non-GAAP basis, the Company earned $1.63 cents per share, a 4% increase over the comparable 13-week non-GAAP earnings per share of $1.56 in 2018.

Fourth quarter comparable-store sales decreased 1.6%. Total sales decreased 2.2%, to $2,221 million this year, compared with sales of $2,272 million in the fourth quarter of 2018. Excluding the effect of foreign exchange rate fluctuations, total sales for the fourth quarter decreased 2%.

Said CEO Richard Johnson, "While we had leading positions in key on-trend footwear styles, this was not enough to offset softer than expected demand during the compressed holiday season, a very promotional marketplace for apparel, and tougher launch comparisons."

Sales for 2019 were $8,005 million, an increase of 0.8% compared to sales of $7,939 million in fiscal 2018. Full-year comparable-store sales increased 2.2%. Excluding the effect of foreign currency fluctuations, total sales increased 2%.

The Company's net income decreased to $498 million in 2019, or $4.56 per share, as compared to the 2018 reported net income of $541 million, or $4.66 per share. On a non-GAAP basis, earnings per share totaled $4.93 in 2019, a 4.7% increase over last year's 52-week, non-GAAP earnings of $4.71.

Shares began Friday down 86 cents, or 2.6%, to $32.70.

COMTEX_362650631/2559/2020-02-28T09:43:15

/zigman2/quotes/204092533/composite
US : U.S.: NYSE
$ 35.79
-0.16 -0.45%
Volume: 2.72M
Sept. 18, 2020 4:00p
P/E Ratio
19.04
Dividend Yield
1.68%
Market Cap
$3.74 billion
Rev. per Employee
$161,332
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