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Foot Locker Q2 EPS rise, comparable sales up 4.7 percent

By Prachi Singh

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Business

Net income for Foot Locker’s second quarter ended July 30, 2016 was 127 million dollars or 0.94 dollar per share, compared with net income of 119 million dollars or 0.84 dollar per share, last year. Comparable-store sales increased 4.7 percent and total sales increased 5 percent to 1,780 million dollars this year. Excluding the effect of foreign currency fluctuations, total sales increased 5.4 percent.

“As a Company, Foot Locker has strong leadership positions in the athletic industry, with the most important being our deep understanding of the core customer for each of our banners,” said Richard Johnson, Chairman of the Board and CEO, adding, “Within the second quarter, we drove comparable sales gains across basketball, running, and classic footwear, as well as apparel. We also posted gains in all regions and channels in which we operate.”

Year-to-date results of Foot Locker

Net income for the company’s first six months of the year increased to 318 million dollars or 2.33 dollars per share, compared to net income of 303 million dollars or 2.14 dollars per share, for the corresponding period in 2015. Earnings per share increased 8.9 percent compared to the same period in 2015. Year-to-date sales were 3,767 million dollars, an increase of 4.3 percent. Year-to-date comparable store sales increased 3.7 percent. Excluding the effect of foreign currency fluctuations, total year-to-date sales increased by 4.6 percent.

During the second quarter, the company opened 23 new stores, remodelled or relocated 64 stores, and closed 18 stores. As of July 30, 2016, the company operated 3,401 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 54 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 15 franchised Runners Point stores in Germany.

Picture:Facebook/Foot Locker

Foot Locker