Foot Locker Announces Updated Strategic Plan; Elevated Long-Term Financial Objectives
Ken C. Hicks, Chairman and Chief Executive Officer of Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, and other senior members of the management team today announced an updated strategic plan and set of operating initiatives intended to further elevate the Company's long-term financial performance for the period 2012 through 2016. The announcement came during an investor meeting held this morning.
The Company also raised the financial objectives it expects to achieve over the next five years:
Sales of $7.5 billion Sales per Gross Square Foot of $500 EBIT Margin of 11 percent Net Income Margin of 7 percent Return on Invested Capital of 14 percent Inventory Turnover of 3+ times
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