Following a string of strong quarterly results, the American sportswear retailer reported declines in both sales and earnings in the second quarter ended August 3, 2019, falling short of Wall Street's expectations.
Sportswear retailer Foot Locker posted a net profit of $172 million (€153 million) in its first quarter of 2019, ended in early May, which is equivalent to an increase of 4.2% over the corresponding prior-year period.
U.S. sneaker company Foot Locker on Friday reported fourth quarter results that blew away estimates, with comparable sales recording close to 10% growth during the holiday season, and record sales made in 2018.
The retailer has announced that it is making an investment of $100 million in the sneaker resale platform, opening the door to synergies based on the companies’ respective strengths in physical and digital retail.
The New York-based sports and footwear retailer announced on Tuesday that it has realigned its organizational operating model into three geographical regions, appointing the new divisions’ leaders from within.