Foot Locker reports solid growth for the first nine months

In its third quarter ended Nov. 2, Foot Locker managed to increase its total sales by 6.4 percent (and by 4.1 percent on a comp store ratio) to $1,622 million. Excluding currency effects and the acquisition of Runners Point in Germany, sales were up by 1.3 percent compared with last year’s period. The net income was slightly down to $104 million from $106 million in the third quarter of 2012. In the first nine months of the financial year, sales hiked by 5.5 percent in dollars to $4,714 million, but by 3.7 percent on a comp store basis and by 5.3 percent excluding currency rate changes. In the same period,  net income soared to $308 million from $293 million last year. During the third quarter, the New York-based retailer opened 28 new stores, but shut down 13. Foot Locker refurbished or moved 118 points of sale in the same period. As of Nov 2, the group runs 3,510 own shops worldwide. To this add 45 franchised outlets in the Middle East and South Korea plus 27 Runners Point and Sidestep franchises in Germany and Switzerland.

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