Inside FL’s Results
FL reported earnings of $146 million, or $1.01 per share, up from $121 million, or 81 cents per share, last year. Excluding special items, earnings were $1.00, above analysts’ view of 91 cents.
For 2014, net income was $520 million, or $3.56 per share, from $429 million, or $2.85 per share.
Revenue increased 6.7% to $1.91 billion from $1.79 billion last year. Analysts expected to see revenue of $1.87 billion.
For the year, sales rose 9.9% to $7.151 billion.
Sales Are Surging, But There Are Concerns
Although profits are growing, FL has seen increased competition from companies like Nike (NKE), as well as department stores like Macy’s (M). Sales growth is expected to remain in the mid-single digit range, but the strengthening dollar will continue to be a headwind.
Mutual Funds to Watch
|OAKBX||Oakmark Equity & Income I||3.41%|
|VTSMX||Vanguard Total Stock Market||2.57%|
|VEXMX||Vanguard Extended Market Idx||1.73%|
The Bottom Line
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