Home / Knowledge / News / Apparel/Garments / Foot Locker announces 2019 capital allocation plans

Foot Locker announces 2019 capital allocation plans

Feb '19
Pic: Foot Locker
Pic: Foot Locker
The board of directors of Foot Locker, Inc, the New York-based specialty athletic retailer, has authorised three capital allocation initiatives to sustain meaningful investment in the business and reward long-term shareholders. This includes declaring a quarterly cash dividend, approving a share repurchase programme and capital expenditure programme for 2019.

Footlocker’s board of directors declared a quarterly cash dividend on the company’s common stock of $0.38 per share, which will be payable on May 3, 2019 to shareholders of record on April 18, 2019. The 10 per cent increase in the dividend is the ninth consecutive year with a dividend increase in the double-digit per cent range and is equivalent to an annualised rate of $1.52 per share.

Secondly, the board of directors approved a new 3-year, $1.2 billion common share repurchase programme extending through January 2022, replacing the company’s previous $1.2 billion programme. Through the end of fiscal 2018, the company had spent $817 million under that programme since it was announced two years ago.

Third, the board of directors approved a $275 million capital expenditures programme for 2019, compared to the approximately $200 million in 2018.  The capital spending planned for 2019 reflects increased investments in the company’s store fleet in all existing regions, including Asia, and in its digital initiatives. In addition, the company will continue to spend capital to build out its supply chain and other infrastructure capabilities.

“As we look at 2019, we see exciting opportunities to invest in our business and continue to build on our unparalleled strengths,” said Richard Johnson, chairman and chief executive officer. “Taken together, these actions demonstrate that our board is confident that Foot Locker, Inc. can simultaneously deliver strong financial results, invest in the long-term growth of the business, and provide meaningful returns to our shareholders.” (PC)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 27th Sep 2021

China's infrastructure plan to spur domestic demand, economic change

China’s State Council's executive meeting recently adopted the 14th...

Pic: Shutterstock

Apparel/Garments | On 27th Sep 2021

AAFA calls for tariff relief as US industry deals with shipping crisis

American Apparel & Footwear Association president and CEO Steve Lamar ...

Pic: Shutterstock

Textiles | On 27th Sep 2021

Bangladesh seeks duty-free market access to US

Bangladesh recently urged the US to provide duty-free access to its...

Interviews View All

Gaurav Davda, Jindal Worldwide Ltd

Gaurav Davda
Jindal Worldwide Ltd

Indian MMF sector to become globally competitive

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Textile Industry, Head honchos

Textile Industry
Head honchos

Great step towards realising end goal of 'AtmaNirbhar Bharat'

Ghatit Laheru,

Ghatit Laheru

When the 2001 tremblor wrecked the Kachchh region of Gujarat throwing many ...

Dhirubhai & Arvind Shah,

Dhirubhai & Arvind Shah

It supplies synthetic fabrics to top international brands like M&S,...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Dave Rousse, INDA

Dave Rousse

INDA, a global association of the nonwoven fabrics industry, has been...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Giulio Cesareo, Directa Plus

Giulio Cesareo
Directa Plus

UK-based Directa Plus is one of the largest producers and suppliers...

Abhishek Agarwal, Purple Style Labs

Abhishek Agarwal
Purple Style Labs

Late Indian fashion designer Wendell Rodricks, is known for his...

Anjali Bhaskar, Samatvam

Anjali Bhaskar

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

September 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

Advanced Search