Foot Locker: sales rise by 3.3% in the second quarter
today Aug 25, 2015
In the second quarter of the 2015 fiscal year, closed on August 1st 2015, Foot Locker recorded a 3.3% rise in sales, reaching € 1.45 billion ($ 1.69 billion). Net of exchange rate effects, the revenues grew 9.9%.
The US fashion and sport retailer's net income rose to € 102.7 million ($ 119 million), a 29% growth, while its gross margin went from 32% a year earlier to 32.6% now.
Within the group, the footwear segment is always the top performer, led notably by basketball and running, but also by women's and children's shoes, both achieving double-digit growth.
In Europe, the six leading countries too have enjoyed a double-digit rise. Dick Johnson, the US retailer's CEO, stated that he wants to accelerate Foot Locker's growth in France and Spain, two countries in which the group is still under-represented.
In the course of the quarter, the group opened 21 new stores, renovated or relocated 65 stores, and closed 21 others. As of August 1st, Foot Locker numbered 3,419 stores in North America, Europe, Australia and New Zealand.
Besides, the group operates 48 franchise stores in the Middle East and South Korea, and also 27 Runners Point and Sidestep franchise stores in Germany and Switzerland. The latter two retailers were acquired by the group in 2013.
In the first six months of the fiscal year Foot Locker saw sales rise by 2.9%, reaching € 3.11 billion ($ 3.61 billion).
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