Foot Locker Q3 revenues decline but profits surge

American athletic-shoe retailer Foot Locker said on Tuesday its Q3 revenue for 2018 fell, while net income rose by 27.5 percent from the same period last year.

The company’s sales in Q3 2018 were 1,860 million US dollars, down from 1,870 million US dollars a year earlier. Net profit rose to 130 million US dollars. The profit margin of the company rose to 7 percent compared to 5.5 percent a year ago.

Foot Locker Inc was founded in 1974 by F. W. Woolsworth Company and is based in New York, United States. Foot Locker is a successor corporation to the F. W. Woolworth Company, as many of its freestanding stores were former Woolworth's locations. The company, along with its Foot Locker chain of athletic footwear retail outlets along with Kids Foot Locker and Lady Foot Locker stores, also runs athletic-based divisions such as Champs Sports, Footaction USA, House of Hoops, and Eastbay/Footlocker.Com.

Offering athletic footwear, the United States-listed company has about 15,141 employees worldwide and operates more than 3310 stores.

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