The average price paid fell to $33.18 in 2004 from $33.71 in 2003. This was in line with the long-term trend for this category, which has experienced declining average prices for many years as retailers battle for sales and consumers are increasingly attracted to lower-priced non-performance styles.
Sportsman’s Guide Rose 29% In 4Q
The Sportsman’s Guide 4Q sales were $92.5 million, a 29% increase over the $71.7 million reported for the same period one year ago. The company reported net earnings of $4.6 million, or 85? per fully diluted share for the fourth quarter, compared to $3.8 million, or 71? per share, reported for the three months ended December 31, 2003.
For the 12 months ended December 31, 2004, sales were $232.5 million, a 19% increase over the $194.7 million reported for 2003. The company recorded net earnings of $7.6 million, or $1.43 per fully diluted share, for the year, compared to net earnings of $6.2 million, or $1.16 per share, for FY03. The board of directors declared a three-for-two stock split in the form of a 50% stock dividend. The split shares will be distributed on April 15, 2005 to shareholders of record March 25, 2005.
Foot Locker 4Q Income Up 21%
Foot Locker’s net income increased 21% to 57? per share, or $89 million, up from 47? per share, or $71 million last year. In 4Q, sales increased 15.1% to $1,535 million this year compared to sales of $1,334 million for the corresponding prior year period. 4Q comp-store sales increased 2.5%.
"Our fourth quarter earnings per share increase of 21% was above the high end of our original guidance range, and reflected a solid comparable- store sales increase, an improving operating profit margin rate and a lower effective income tax rate," stated Matt Serra, CEO. "The financial highlights of the fourth quarter also included a strong total sales increase, a higher gross margin rate and continued effective expense management."