- Prachi Singh |
Foot Locker, for its second quarter ended August 1, 2015, reported comparable-store sales increase of 9.6 percent. Total sales increased 3.3 percent to 1,695 million dollars this year, compared with sales of 1,641 million dollars for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the second quarter increased 9.9 percent.
Net income for the company’s second quarter was 119 million dollars, or 0.84 dollar per share, compared with net income of 92 million dollars, or 0.63 dollar per share, last year, a 33 percent increase.
“We extended the momentum with which we started 2015, generating outstanding quarterly sales and profits in the second quarter,” said Richard Johnson, President and Chief Executive Officer, adding, “We continued to achieve broad-based and consistent strength across geographies, banners, channels, and categories.”
Net income for the company’s first six months of the year increased to 303 million dollars, or 2.14 dollars per share, compared to net income of 254 million dollars, or 1.73 dollars per share, for the corresponding period in 2014. Earnings per share for the six-month period increased 24 percent compared to the same period in 2014. Year-to-date sales were 3,611 million dollars, an increase of 2.9 percent compared to sales of 3,509 million dollars in the corresponding six-month period of 2014. Year-to-date comparable store sales have increased 8.7 percent. Excluding the effect of foreign currency fluctuations, total sales year-to-date increased 8.9 percent.
During the second quarter, the company opened 21 new stores, remodeled or relocated 65 stores, and closed 21 stores. As of August 1, 2015, the company operated 3,419 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 48 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 27 franchised Runners Point and Sidestep stores in Germany and Switzerland.