Revenues at Footlocker show double-digit drop
Athletic shoe retail group Foot Locker has reported revenues of just under $3.8 billion for the first half of its current business year, the months from January to July 2023. This represents a fall of 10.6% year on year.
Sales for the company in Asia were flat at $290 million for the six-month period, and the figure for Europe, $821 million, represented a fall of 1.1%. However, with sales in North America of just under $2.7 billion, the decline in Foot Locker’s biggest market was 14.2%.
Chief executive, Mary Dillon, said Foot Locker was adjusting its 2023 outlook to allow it to compete for “price-sensitive consumers”. She said it was making progress on inventory levels and was working to prepare for a positive period over Christmas and new year.
