Fleet Feet, Incorporated saw net sales jump 19% for fiscal 2007 with a 15% increase in comparable store sales. Net sales surpassed $75 million in revenue compared to $63 million in 2006.
“We are extremely proud of this organization for defying national retail trends by posting continued growth and success in 2007,” said Jeff Phillips, President of Fleet Feet, Inc. “Its not without an enormous amount of work on the part of our franchisees who have an unwavering focus on serving our customers. Through the support of our vendors, corporate staff and franchise network, these specialty business owners are making a significant, positive impact on their communities, and its paying off.”
Fleet Feet, Inc., was recognized by two business publications for excellence in 2007, Entrepreneur Magazine and Inc. Magazine. For the second year in a row, Entrepreneur ranked Fleet Feet, Inc. in their Franchise 500 its annual list of top franchisors. At 352, Fleet Feet, Inc. is the only running specialty retail franchise on the Franchise 500 listing.
In addition, Inc. magazine included Fleet Feet, Inc. in its Inc. 5,000 fastest growing companies in America listing, an expansion of the Inc. 500 introduced in 1982.
Fleet Feet, Inc. added 12 new franchise owners to the network in 2007. Ten new locations were opened, including one by an existing franchisee, and three existing locations changed ownership. Three of the new franchise owners are former store employees, bringing the total number of franchises owned by former employees to 18. Fleet Feet, Inc. plans to open 12 new stores in 2008.