Foot Locker Q4 profit up on higher sales
New York -- Foot Locker Inc. on Friday said its fourth quarter profit rose to $104 million from $81 million a year earlier.
Sales jumped 14% to $1.71 billion, including the benefit of an extra week. Same-store sales rose 7.9%.
For fiscal year 2012, which included 53 weeks, the company reported net income of $397 million, compared to $278 million a year earlier.
Total sales increased 9.9% in 2012 to $6.182 million, compared with sales of $5.623 million last year. Same-store sales were up 9.4% in 2012.
"With the momentum we built from executing our strategic initiatives, the team at Foot Locker, Inc. was able to drive our sales and profits substantially higher than last year's record results," said Ken C. Hicks, chairman and CEO of Foot Locker, Inc. "We believe that we can continue to build on this momentum and deliver a double digit percentage earnings per share gain for full-year 2013, compared to our 2012 non-GAAP results of $2.47 per share."