The company, which operates Foot Locker, Champs Sports, Atmos and WSS, said sales reached $2,243 million, as compared with sales of $2,380 million in the fourth quarter of 2023.
During the quarter, Foot Locker’s comparable sales climbed 2.6%. By brand, global Foot Locker and Kids Foot Locker combined comparable sales jumped 3.6%, while Champs Sports delivered its second consecutive quarter of comparable sales growth, with gains of 1.8%. The gains were partially offset by WSS, where comparable sales fell 3.3%.
Net income from continuing operations was $55 million, as compared with net loss of $389 million in the prior-year period. Fourth quarter earnings per share from continuing operations was $0.57, as compared with loss of $4.13 per share in the prior year.
During the fourth quarter, the company opened 7 new stores and closed 47 stores. Also during the quarter, it remodeled or relocated 21 stores and refreshed 160 stores to its updated design standards.
Foot Locker currently operates 2,410 stores in 26 countries across North America, Europe, Asia, Australia, and New Zealand, as well as 224 licensed stores in the Middle East, Europe, and Asia.
“We delivered fourth quarter results above our previously revised expectations, as our investments and execution drove positive comparable sales and meaningful gross margin improvement compared to the prior year,” said Mary Dillon, president and chief executive officer.
“Reflecting on 2024 overall, we made significant progress in elevating our in-store experience with our new Reimagined doors and store refresh program, enhancing our digital and mobile capabilities, expanding engagement with our FLX Rewards Program, and leaning into brand building through compelling campaigns and partnerships. Our return to positive comparable sales growth, gross margin expansion, and positive free cash flow in fiscal 2024 serve as proof points that our Lace Up Plan is working.”
Looking ahead to 2025, Foot Locker is projecting comparable sales to rise between 1% and 2.5%. It’s expecting to open or convert an additional 80 reimagined locations by the end of the year.
