Foot Locker Q4 income more than doubles
New York City -- Foot Locker’s fourth-quarter net income more than doubled to $57 million on fewer charges and improved revenue.
The company reported a 5% increase in sales for the quarter ended Dec. 31, 2010, to $1.39 billion, up from $1.33 billion in the year-ago period. Same-store sales rose 7.3%.
Foot Locker reported net income of $169 million for the full year. That compares with net income of $48 million, in 2009.
The company opened 43 stores and closed 117 in fiscal 2010. Its total store count fell to 3,426 as of Jan. 29, compared with 3,500 a year earlier.