Foot Locker (NYSE: FL) on Friday reported its 14th straight quarter that beat analysts' expectations. The specialty athletic chain said strong improvements in various aspects of the business, including store productivity and improved margins, helped the company meet goals over the competitive year-end season.
Athletic sportswear proved to be a strong category over the holiday season for Foot Locker, particularly in the children's business. Strong e-commerce also helped grow sales. Foot Locker manages six online storefronts at footlocker.com, ladyfootlocker.com, kidsfootlocker.com, footaction.com, champssports.com and ccs.com. Another sweet spot for the retailer was its "shop-in-shops," mini-boutiques dedicated to individual sports brands within Foot Locker stores.
To continue the momentum, Foot Locker will be focusing on store remodel programs, technology investments, a growing team sales and services business, and its women's business. The company is also planning to build more stores in Europe. Foot Locker currently operates roughly 3,370 stores in the U.S., Canada, Australia, New Zealand and across Europe.
The New York-based retailer reported revenue of $1.79 billion, up 5 percent over last year's $1.71 billion, and beating Wall Street estimates of $1.76 billion. Net income rose to $121 million, up 16 percent from last year's $104 million. Same-store sales grew 5 percent.
-See this Foot Locker press release
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