Foot Locker CEO Says Private Label Filling Gaps

May 28, 2013
/ Print / Reprints /
ShareMore
/ Text Size+

As Foot Locker reported record first quarter earnings, the first question from analysts to its CEO on the earnings call was about private label.

Foot Locker earnings reached 91 cents a share in the first quarter of 2013, a 10 percent increase over a year ago and the highest quarterly earnings in the company’s history.

Answering an analyst on the call, CEO Kenneth Hicks said Foot Locker would continue building on private labels in its stores.

“What we believe private label apparel gives us (is) an opportunity to fill voids that are not provided by the brands,” Hicks said, according to transcripts of the call from Seeking Alpha. “We're going to be primarily a branded apparel retailer. But we (think) there are voids that we use private label and continuing to build on them, such as the cargo short business, very strong business for us; some T shirts. We also have the ability to develop brands, such as what we've done with Sneaker Freak in Europe and Actra with women's business.

“And so what we continue to do is evolve that business from a very promotional business that it used to be and use it to fill voids where we believe there is significant opportunities. And that may involve brands, or it may involve just using the private label, as we do in shorts and fleece.”

Did you enjoy this article? Click here to subscribe to Private Label Buyer.

Recent Articles by Chris Freeman

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

July 2014 New Food Products

This month’s new food products include coffee, energy bars, healthy pizza for kids, specialty sauces, Greek yogurt dip, gelato, puffed grain snacks, snack seasonings, and much more.

Podcasts

Coming with a clear, comprehensive plan was the key to success for Longo Brothers Fruit Markets when the grocer decided to roll out a two-tier private label strategy, Jenny Longo and Robert Koss tell PLBuyer editor Chris Freeman in this podcast.

More Podcasts

Private Label Buyer Magazine

PLB July 2014 cover

July 2014

The July 2014 issue of Private Label Buyer includes articles on changing retail dynamics as well as category insights on store brand cosmetics and paper products. Check it out today!

Table Of Contents Subscribe

Innovation

Which private label category is currently seeing the most innovation?
View Results Poll Archive

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

PLB Marketplace

STAY CONNECTED

facebook_40px twitter_40px  youtube_40pxlinkedin_40pxgoogle+ icon 40px