Foot Locker (FL), the New York-based specialty athletic retailer, has announced a 39.39 percent jump in profit for the quarter ended Aug. 02, 2014. The company earned $92 million or $0.63 a share in the second-quarter compared with $66 million or $0.44 a share a year ago. Non-GAAP earnings per share came in at $0.64, when analysts expected $0.54. Revenue during the second-quarter climbed 12.86 percent to $1,641 million from $1,454 million in the last year period.
''The team at Foot Locker once again achieved record levels of sales and profits in the second quarter, and I am extremely proud of their efforts,'' said Ken C. Hicks, chairman of the board and chief executive officer.
Cash Position
As on Aug. 02, 2014, the company's cash balance stood at $957 million, up 21.29 percent or $168 million from Aug. 03, 2013.
Working Capital
Foot Locker has witnessed an increase in the working capital over the last one year. The company's working capital stood at $1,801 million as at Aug. 02, 2014, up $146 million or 8.82 percent from $1,655 million on Aug. 03, 2013. It registered an increase in current ratio to 3.40 as at Aug. 02, 2014 from 3.27 on Aug. 03, 2013.
Debt Position
Foot Locker has witnessed a decline in long-term debt over the last one year. As on Aug. 02, 2014, long-term debt stood at $134 million, down 2.90 percent or $4 million, from Aug. 03, 2013. The company total debt was 3.62 percent of total assets as on Aug. 02, 2014, compared with 4.02 percent on Aug. 03, 2013.
Shares of the company gained $2.37 or 4.53 percent to trade at $52.57 on Friday (9:19AM).