Shares of Foot Locker (FL) fell some 7.1% in Friday's trading session. The retailer of athletic shoes and apparel, which operates over 3,300 stores, issued a little inspiring outlook when the firm reported its fourth-quarter results before the market open.
Fourth-Quarter Results
Foot Locker reported fourth-quarter revenues of $1.71 billion, up 14.0% compared to the same period last year. Like many other retailers, Foot Locker's final quarter of 2012 included a 14th working week, which boosted the results. Comparable sales grew by 7.9%, trailing annual comparable sales growth of 9.4%. Revenues came in ahead of analysts consensus of $1.69 billion.
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