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Footlocker is a US-based company that trades in athletic footwear and its apparel. As a public company, the company diversified its operations into two segments which primarily include operating athletic footwear stores as well as operating Direct to customer operations. Direct to customers involves the direct sale of goods and other associated products to the customers through the internet and mobile sites and catalogs. Some of the sites the company uses for the purpose include footlocker.com, ladyfootlocker.com among others. The company’s apparel store offers both consumer goods and services. Footlocker Company is traded publicly in the New York Securities Exchange (NSE) especially as an athletic retailer. As of January 2017, Foot Locker company already had 3, 363 athletic stores located in the US, Europe, Asia, and Canada. It is important to note that almost 70 % of the company’s products are obtained from the Nike Company.
According to the company’s filling held by the SEC, Foot Locker was started as a separate company in the year 1988, however, currently, the United States holds the highest number of the Foot Locker stores. Consequently, the company has witnessed a commendable growth in terms of its finance holding and as reported by Fortune Magazine, the company moved from position 446 in 2011 to 363 in 2018. Recent financial information has shown that the company holds up to about 7.1 billion US dollars reserve considering its net worth.
In the second quarter of the financial year 2018, Foot Locker reported 1.78 billion dollar revenue, the New York securities exchange has shown that the company has easily got back past most of its competitors, a show that has been attributed to the increase in demand of the products from its top vendors.
Concerning the company’s property and assets, the company has been reported to have an employee base of 14, 267 fulltime employees and 29,251 part-time employees as of February 2014. Financial information concerning the merchandise purchase of the company is contained under the liquidity section under item 7. As of February 2014, the cash equivalents assets held by the company were close to 867 million dollars whereby the majority of the cash had been put on short term investments in highly-rated bank institutions. However, the company held 426 million dollars in liquid cash.
As of 2019, the company has reported 3.7 billion; the records have indicated that the 2019 quarterly report is considered as the company’s peak performance with the lowest performance recorded in 2016. The property, Plant and Equipment (FPE) are the fixed assets of the company also known as the noncurrent assets. Property and assets have been indicated to form part of the products that will be sold to the customers. Some of the common parts of property, plant, and equipment are:
Land on which the company stands
Transportation Equipment, Office Equipment, and furniture
Financial statements from the company indicate the following: cash and short term investment 744. 0 million dollars of cash, the total debt stands at 3.35 billion US dollars, the company’s total liabilities 4.19 billion United States dollars, and the total shareholder’s equity is shown at 2.43 billion dollars. The company’s basic outstanding shares were valued at 115.6 million dollars as compared to the 116.1 million dollars of diluted shares. This information is true as of 2019. In conclusion, impressive teamwork within the company has ensured a better financial position of the company is maintained.
References
Sack, A. L., & Nadim, A. (2019). Strategic choices in a turbulent environment: A case study of Starter Corporation. Journal of Sport Management, 16(1), 36-53.
Sweeney, R. A. (2009). A Strategic Analysis of Foot Locker, Inc.
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