Disappointing quarter for Foot Locker - sportstextiles: Lea SportsTextiles

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Disappointing quarter for Foot Locker

28/08/2019
US-based shoe retailer Foot Locker has reported a 32% drop in income for the second quarter of the year, and closed a net 27 stores during the period.

Income reached $60 million, while sales decreased 0.4% to $1.7 billion.

"While our results in the second quarter did come in at the low end of our expectations, we saw improvement in our performance as we moved through each month of the quarter," said CEO Richard Johnson. 

"We remain deeply connected with sneaker and youth culture, and believe this positive momentum exiting the quarter has us well positioned for the back-to-school period and beyond."

During the second quarter, the company opened 10 stores, remodelled or relocated 35 stores, and closed 37 stores. As of August 2019, it operated 3,174 stores in 27 countries.


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