Foot Locker posts record net income

New York – Foot Locker reported record net income of $138 million for its first quarter, up 8% from $128 million during the same quarter a year earlier. Same store sales rose 5.2% from first quarter 2012.

In addition, Foot Locker’s total sales for the quarter ended May 4 equaled about $1.64 billion, a 4% jump from about $1.58 billion in the first quarter of the prior year.

Ken Hicks, chairman of the board and CEO of Foot Locker, credited team effort and high performance for producing the company’s best-ever quarterly profits for the second first quarter in a row.

“I am pleased to report that the thoughtful implementation of our strategic priorities continues to deliver record financial and operational results for our shareholders and other stakeholders,” said Hicks.

During the first quarter, the company opened 25 new stores, remodeled/relocated 64 stores and closed 39 stores. As of May 4, 2013, Foot Locker operated 3,321 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 45 franchised stores were operating in the Middle East and South Korea.

 

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