Foot Locker's pre-tax profits up 23% on strong sales in Q1
19 May '05
3 min read
new york-based specialty athletic retailer foot locker inc reported financial results for its first quarter ended april 30, 2005.
- total sales increased 16.1 percent
- net income per share increased 19 percent to $0.37
- pre-tax profit increased 23 percent
- pre-tax profit margin improved by 40 basis points
- re-confirms guidance on full-year eps from continuing operations
financial results
net income for the company's first quarter ended april 30, 2005, increased 19 percent to $0.37 per share, or $58 million, from $0.31 per share, or $48 million last year. included in last year's results was a gain of $1 million related to discontinued operations. for the first quarter period, sales increased 16.1 percent to $1,377 million this year compared with sales of $1,186 million for the corresponding prior year period. first quarter comparable-store sales increased 2.6 percent.
"we are pleased that our pre-tax profit from continuing operations increased by 23 percent and, as a percentage of sales, by 40 basis points from the first quarter of last year," stated matthew d. serra, foot locker, inc.'s chairman and chief executive officer.
"our earnings per share was at the high end of the guidance that we provided at the beginning of the quarter and, as a result, we remain comfortable that we will be able to continue to post income from continuing operations per share increases in the 10-to-20 percent range for the balance of 2005. we currently expect our second quarter earnings per share from continuing operations to increase towards the high end of this 10-to-20 percent range, with an opportunity to exceed this guidance if our current sales trend continues."
marketing@alchempro.com
