Originally published at www.seclive.com
Foot Locker, Inc. (FL) announced its financial results for the fourth fiscal quarter and full 2013, posting profits that improved 16% from the year-ago quarter. The company reported revenues of $1.79B, improving 4.6% from the year-ago quarter and beating analyst expectations of $1.76B. Same-store sales improved 5.3% and the company's inventory level as of February 1 was $1.22B, up 4.5% from a year ago. Foot Locker earnings were $121M and $0.81 per share, up from $104M and $0.68 per share in the same quarter last year. Adjusted earnings per share were $0.82, beating analyst predictions of $0.76 and improving from last year's $0.64 per share. CEO Ken Hicks commented that the company did well in 2013 and continues to make progress on its long-term goals.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.