Strong results for Foot Locker despite ‘headwinds’
29/08/2013
"Sales in the second quarter were more challenging than we planned for, especially in the US,” said Foot Locker CEO Ken Hicks. “Despite this headwind, we produced second quarter ongoing profit and sales results that were our best ever as Foot Locker, demonstrating that the execution of our strategic priorities continues to deliver solid financial and operational results."
During the second quarter, the company opened 24 new stores, remodelled or relocated 89 stores and closed 44 stores.
With the addition of 194 stores acquired in the Runners Point Group transaction, the company operated 3,495 stores in 23 countries as of August 3, 2013. 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 added as part of the RPG acquisition.
"We remain confident that we can achieve a mid-single digit comparable sales gain and a double digit percentage profit increase for fiscal 2013, as we build momentum in our operational and financial performance now and over the long term," added Mr Hicks.
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