Foot Locker delivers solid Q2
NEW YORK — Despite experiencing some challenges, particularly in the U.S., Foot Locker reported a comparable-store sales of 1.8% for the second quarter ended Aug. 3.
Total second quarter sales were $1.5 billion, up 6.4% from $1.4 billion for the corresponding prior-year period. Total second quarter sales results include one month of Runners Point Group's operations — the company recently completed acquisition of German athletic store chain Runners Point Group for $94 million. Foot Locker's net income increased 12%, partly due to that acquisition.
For the period ended Aug. 3, the company earned $66 million, compared to $59 million a year ago.
“Sales in the second quarter were more challenging than we planned for, especially in the United States. Despite this headwind, we produced second quarter ongoing profit and sales results that were our best ever as Foot Locker, Inc., demonstrating that the execution of our strategic priorities continues to deliver solid financial and operational results for our shareholders and other stakeholders,” said Ken C. Hicks, chairman and CEO.
Foot Locker operated 3,495 stores — of which 194 were acquired in the RPG transaction — in 23 countries in North America, Europe, Australia, and New Zealand as of Aug. 3. In addition, 45 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 24 Runners Point and Sidestep franchised stores, which were likewise added as part of the RPG acquisition.