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Comparable store sales increase 7.8 percent at Foot Locker

By Prachi Singh

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Foot Locker, the New York-based specialty athletic retailer, for its first quarter ended May 2, 2015 reported net income of 184 million dollars, or 1.29 dollars per share, compared with net income of 162 million dollars, or 1.10 dollars per share, last year, a 17 percent increase.

First quarter comparable-store sales increased 7.8 percent. Total first quarter sales increased 2.6 percent, to 1,916 million dollars this year, compared with sales of 1,868 million dollars for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the first quarter increased 7.9 percent. “We have hit the ground running in 2015, producing the most profitable quarter in our history,” said Richard Johnson, President and Chief Executive Officer.”

During the first quarter, the company opened 37 new stores, remodeled or relocated 55 stores, and closed 41 stores. As of May 2, 2015, the company operated 3,419 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 55 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.

Foot Locker