Specialist athletic shoe retail group Foot Locker has reported revenues of just over $1.9 billion for first quarter of its current business year, the three months ending April 29, 2023. This figure represents a decline of 11.4% year on year.

Chief executive, Mary Dillon, said sales had “softened meaningfully” owing to a tough macroeconomic backdrop. She said the group was applying “more aggressive markdowns” to some shoes to drive demand and manage inventory.

The group has also announced the appointment of Mike Baughn as its new chief financial officer He will take up the role on June 12. Robert Higginbotham, who has been serving as interim chief financial officer, will resume his role as senior vice-president for investor relations.

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