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Foot Locker, Inc. Message Board

  • bluecheese4u bluecheese4u Aug 17, 2012 8:27 AM Flag

    FOOT LOCKER, INC. REPORTS SECOND QUARTER RESULTS

    FOOT LOCKER, INC. REPORTS SECOND QUARTER RESULTS

    · Net Income of $0.39 Per Share, Up 63 Percent Compared to Last Year
    · Comparable-Store Sales Increased 9.8 Percent
    · Gross Margin Increased 90 Basis Points

    NEW YORK, NY, August 17, 2012 – Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic
    retailer, today reported financial results for its second quarter ended July 28, 2012.

    Second Quarter Results
    Net income for the Company’s second quarter ended July 28, 2012 was $59 million, or $0.39 per share,
    compared with net income of $37 million, or $0.24 per share, last year. Second quarter sales increased 7.2
    percent, to $1,367 million this year, compared with sales of $1,275 million for the corresponding prior-year
    period. Second quarter comparable-store sales increased 9.8 percent. Excluding the effect of foreign
    currency fluctuations, total sales for the second quarter increased 10.6 percent.

    Year-to-Date Results
    Net income for the Company’s first six months of the year increased 43 percent to $187 million, or $1.21
    per share, compared with net income of $131 million, or $0.84 per share, for the corresponding period last
    year. Year-to-date sales increased 8.0 percent, to $2,945 million, compared with sales of $2,727 million last
    year. Year-to-date comparable-store sales increased 9.8 percent. Excluding the effect of foreign currency
    fluctuations, total sales year-to-date increased 10.1 percent.
    “I’m very proud of the entire Foot Locker, Inc. team,” said Ken C. Hicks, Chairman and Chief Executive
    Officer. “We have achieved consistently strong financial and operational results since we began
    implementing our long-term plan over two years ago. This consistency was also evident with the good
    profitability we achieved this quarter across our divisions, from the North American stores, to Europe, and
    to our direct-to-customer business.”

    Financial Position
    The Company’s merchandise inventory at the end of the second quarter was $1,231 million, 3 percent lower
    than at the end of the second quarter last year. On a per store basis using constant currencies, inventory
    grew approximately 1 percent.
    During the second quarter of 2012, the Company repurchased approximately 1.2 million shares of its
    common stock for $37.5 million. Year-to-date, the Company has repurchased approximately 2.1 million
    shares of its common stock for $64.6 million under the Company’s $400 million share repurchase program.

    http://www.footlocker-inc.com/pdf/2012/pr_2012_fl_2Q12_Earnings_Release_FINAL.pdf

 
FL
48.43-1.10(-2.22%)Jul 25 4:04 PMEDT

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