Foot Locker reported that its second-quarter sales declined 2.4% to US $ 1.85 billion, with comparable sales down 2% for the period ending 2nd August. The company noted that comparable sales in North America grew 1.4%, but this was offset by declines in other regions.
Excluding WSS, North American comparable sales increased by 2.6%, while Europe and Asia Pacific saw a decrease of 10.3%.
Chief executive officer Mary Dillon said the quarter showed sequential momentum, with positive comparable sales in North America led by the Foot Locker, Kids Foot Locker and Champs Sports banners, including a strong start to the back-to-school season in July. She added that results were affected by a difficult operating environment and softer store traffic, particularly in WSS and international businesses. Dillon stated that the company continued to execute its “Lace Up Plan,” which includes leveraging brand partnerships, updating its store formats, improving digital platforms and expanding engagement through the FLX Rewards program.
The update follows the announcement in May that Dick’s Sporting Goods would acquire Foot Locker for US $ 2.4 billion. The transaction, which marks Dick’s international expansion and adds more than 2,400 stores across 20 countries, has since received shareholder and regulatory approval. Dillon said the company looks forward to the completion of the deal.
