Foot Locker's Q1 comparable sales rise 4.6 percent
By Prachi Singh
24 May 2019
New York-based athletic retailer Foot Locker, Inc., for its first quarter ended May 4, 2019 reported net income of 172 million dollars or 1.52 dollars per share compared to 165 million dollars or 1.38 dollars per share in the corresponding prior-year period. The company said, non-GAAP earnings were 1.53 dollars per share compared to 1.45 dollars per share. First quarter comparable-store sales increased 4.6 percent, while total sales increased 2.6 percent to 2,078 million dollars. Excluding the effect of foreign exchange rate fluctuations, total sales increased 4.7 percent.
"We started the year with great energy, innovative products, and exciting customer events, leading to solid top-line growth in the first quarter with strong performance across our regions, banners, channels, and categories," said Richard Johnson, President and Chief Executive Officer in a statement.
During the first quarter, the company opened 14 new stores, remodelled or relocated 13 stores, and closed 34 stores. As of May 4, 2019, the company operated 3,201 stores in 27 countries in North America, Europe, Asia, Australia, and New Zealand. In addition, Foot Locker said, 119 franchised Foot Locker stores were operating in the Middle East, as well as 10 franchised Runners Point stores in Germany.