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Sales Review
FEBRUARY 02, 2006 --
Foot Locker Inc. said its same-store sales rose 3.9 percent during the fiscal fourth quarter. Total sales for the quarter ended Jan. 28 rose 1.8 percent, to $1.56 billion. Analysts, on average, were looking for sales of $1.57 billion, according to a Thomson Financial poll.
For the fiscal year, same-store sales increased 2.7 percent and total sales jumped 5.5 percent to $5.65 billion.
"We are pleased with our consolidated fourth quarter comparable-store sales results, which were in line with our initial expectations," stated Matthew D. Serra, Foot Locker, Inc.'s Chairman and Chief Executive Officer. "Very solid comparable-store sales increases were posted by each of our retail store divisions in North America, as well as our direct-to-customers business, partially reflecting a more promotional posture during the January clearance period than we had initially expected. As a result, our merchandise is better positioned for 2006 and within our inventory aging standard. Comparable-store sales in other international markets, primarily in Europe, continued to be challenging."
Foot Locker, which plans to report its fourth-quarter earnings March 1, said it expects the quarter's net income from continuing operations to range from 60 cents to 63 cents per share. The company said the quarter's results include pretax income of $5 million, or 2 cents per share, from its insurance collections on losses from last year's hurricanes, as well as a tax gain of about $6 million to $9 million, or 4 cents to 6 cents per share.
Analysts on average are looking for earnings of 56 cents a share.
Hibbett Sporting Goods Inc. reported January same-store sales rose 5 percent. Net sales for the 13-week period ended January 28 increased 12.8% to $120.8 million, and comparable store sales increased 2.5%.
For the fiscal year ended January 28, net sales increased 16.6% to $440.3 million, and gained 5.6% on a comp-store basis.
Mickey Newsome, Chairman and Chief Executive Officer, stated, "Hibbett continued the positive comparable store sales momentum through January that we have exhibited throughout the year. Equipment, footwear and apparel were all positive. We are pleased that our inventory management efforts continue to yield positive results, including faster turns and margin expansion."
For the quarter, the company opened a net of 23 new stores. For the year, the company opened a net of 67 new stores, bringing the total to 549 stores in 22 states. Hibbett expects to open a net of approximately 80 to 85 new stores in fiscal 2007.
Shoe Carnival Inc. increased its fourth-quarter profit projection after reporting January same-store sales rose 11.8 percent. Total sales during the period increased 14.1 percent to $39 million. For the quarter, same-store sales rose 11.7 percent while total sales jumped 13.7 percent to $163.6 million. For fiscal 2005, same-store sales rose 6.9 percent, while total sales increased 11.1 percent to $655.6 million.
"A double-digit comparable store sales increase in January provided a fitting close to the best sales and earnings year ever at Shoe Carnival," said President and Chief Executive Mark Lemond. "We are also pleased that each of our major product categories achieved at least a mid-single digit sales increase for January and the fourth quarter."
Shoe Carnival raised fourth-quarter profit guidance to between 20 cents to 22 cents per share -- including a 3 cent charge for store closings. For the full-year, the retailer projects profit of $1.38 to $1.40 per share. Wall Street expected earnings of 16 cents per share for the quarter, and $1.34 per share for 2005.
Payless ShoeSource, Inc. reported that same-store sales increased 0.8 percent during the January reporting period. Sales totaled $139.3 million, a 1.6 percent increase from $137.2 million during fiscal January of last year. For January, the company cited strong results in women's and men's dress and casual shoes, women's and children's athletic shoes, and girl's shoes. Weaker categories included women's and men's boots.
For the fourth quarter, same-store sales increased by 2.3 percent. Total sales for the fourth quarter 2005 were $611.3 million, compared with $607.2 million in the fourth quarter 2004. Total sales for fiscal 2005 were $2.67 billion, compared with $2.66 billion during fiscal 2004, and same-store sales increased 2.4 percent during the year.
Pacific Sunwear of California reported that total sales for the four weeks of fiscal January, were $75.3 million, an increase of 15.1 percent over total sales of $65.4 million during the same period last year. Total company same store sales increased 4.9 percent during the same period. By concept, PacSun same store sales increased 5.1 percent and d.e.m.o. same store sales increased 3.2 percent compared to the same four week period last year.
Total sales for the fiscal fourth quarter (13 weeks) of fiscal 2005 were $425.0 million, an increase of 11.9 percent over total sales of $379.7 million for the same period last year. Total company same store sales increased 2.2 percent during the same three month period with PacSun same store sales up 2.4 percent and d.e.m.o. same store sales up 0.5 percent.
Total sales for the twelve months (52 weeks) of fiscal 2005 were $1,391.5 million, an increase of 13.1 percent over total sales of $1,229.8 million for the same period last year. Total company same store sales increased 3.2 percent during the same twelve month period with PacSun same store sales up 3.5 percent and d.e.m.o. same store sales up 1.1 percent.
Based on January sales results, the company has reiterated its previous fourth quarter guidance of $0.62 to $0.63 per diluted share. This represents a 15 to 17 percent increase over the $0.54 per diluted share that the company earned in the fourth quarter last year.
Zumiez said total January net sales for the four-week period ended January 28 increased 46.3% to $12.9 million, compared to $8.8 million for the four-week period ended January 29, 2005. The company's comp-store sales increased 23.2% for the past month, versus a comp-store sales increase of 17.2% in the year ago period.
Walking Company, a subsidiary of Big Dog Holdings, Inc., reported same-store sales jumped 7% in the fourth quarter ended December 31. For the year, same-store sales at Walking Co. increased 12.8%.
Consolidated net sales for the company - including the 176 Big Dog stores and 92 TWC stores - for the fourth quarter were $59.4 million, a $3.7 million or 6.6% increase as compared to $55.7 million in the same quarter of 2004. Consolidated net sales for the year were $179.1 million, an 11% increase, as compared to $161.4 million in 2004.
| | | | | REPRINTS
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 Oakley's 4Q05 Affected By '04 Launch Success
Soft 4Q Results, DC Costs Slash Big 5 Guidance
Pacific Sunwear December Sales Rose 11%
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Categories
Executives
Same-store sales
Sporting goods industry
Profits
Footwear
Companies
Foot Locker Inc.
Shoe Carnival Inc.
Hibbett Sporting Goods Inc.
Total company
Payless ShoeSource Inc.
Concepts
same-store sales
net sales
comparable-store sales
comparable store
comp-store sales
People
Matthew D. Serra
Mickey Newsome
Hibbett
Mark Lemond
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