The American shoe dealer Foot Lichen Inc. in the fourth quarter of 2024 recorded a decline in sales by 5.8 percent to $ 2.2 billion (2.0 billion euros). However, the proceeds developed positively on a comparable basis and rose by 2.6 percent.
The company also returned to the profit zone with a net profit from continued business areas of $ 55 million (51 million euros). The net profit adjusted for special effects rose to $ 82 million.
President and CEO Mary Dillon said: “We achieved results about our previously revised expectations in the fourth quarter, since our investments and their implementation led to positive comparable sales and a significant improvement in the gross margin compared to the previous year.”
The profit per share of continued business areas was $ 0.57 in the fourth quarter, while the profit adjusted for special effects per share increased to $ 0.86.
In the course of the quarter, Foot easily opened seven new branches and castle 47, which led to a total stock of 2,410 branches in 26 countries in North America, Europe, Asia, Australia and New Zealand on February 1, 2025. There were also 224 franchise branches in the Middle East, Europe and Asia.
The company forecast for 2025 provides for sales development between -1.0 percent and +0.5 percent. The comparable sales should increase by 1.0 to 2.5 percent and the profit, which is adjusted for special effects, reaches a height of $ 1.35 to $ 1.65.
Dillon also noticed: “We assume that the pressure on consumers: inside and loads due to discounts will remain unsafe until 2025, especially in the first half of the year. However, our “Lace Up Plan” strategies are still well received by our customers: inside and branded partners. ”
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