American shoe chain Foot Locker's net profit has shot up more than 20 % last year, making an excellent start for its new CEO Richard Johnson.
Strong net profit increase
Johnson took over from Ken Hicks, who was Foot Locker's CEO from 2009 until 2014. In 2014's final quarter, which ended on 31 January, turnover grew 6.7 % compared to last year, reaching 1.9 billion dollars (1.8 billion euro). Its like-for-like turnover went up 10.2 % while its net profit even grew 20.7 % to 146 million dollars (135 million euro).
Foot Locker's full fiscal year was also one of excellent results: turnover grew to record heights, at 7.2 billion dollars (6.6 billion euro) thanks to a 9.9 % increase. Its like-for-like turnover growth was still 8 %.
Net profit even grew 21.2 % to 520 million dollars (480 million euro), which - according to CEO Johnson - means that the group has already reached plenty of its long-term goals.