The first quarter of 2014 has resulted in good figures for Foot Locker.
The brand’s net profit has grown to $162m and turnover increased by 14%. Its 2013 figures for the same period saw net profits of $138m (€101.2m), which has now been surpassed by its $162m (€118.8m) this year. This is due to an increase in turnover of 14% from $1.6bn (€1.2bn) to $1.9bn (€1.37bn).
The CEO, Ken C. Hicks, is very satisfied with the results. He said they are off to a great start to 2014 with the first quarter results showing the highest profits and sales in the brand’s history as an athletic company. During a press release he stated that every person within the company plays a vital role in the production of the group’s current strong financial performance as they work toward achieving their objectives both financially and operationally.
During the previous quarter, Foot Locker opened 27 new stores, closed 36 and remodeled 49. The group owns 3464 stores in 23 countries, with 47 franchises in South Korea and the Middle East. Over and above these, it has 27 additional stores through its Runners and Sidestep franchises in Switzerland and Germany.
28 MAY 2014, USA