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Foot Locker Q2 up 12%

New York -- Foot Locker's second-quarter net income increased 12%, partly due to a recent acquisition. (In July, the retailer completed its purchase of German athletic store chain Runners Point Group for $94 million.)

For the period ended Aug. 3, the company earned $66 million, compared to $59 million a year ago. Its results were in line with expectations.

Revenue rose 6.4% to $1.45 billion from $1.37 billion, in line with expectations. Same-store sales rose 1.8%.

“Sales in the second quarter were more challenging than we planned for, especially in the United States. Despite this headwind, we produced second quarter ongoing profit and sales results that were our best ever as Foot Locker, Inc., demonstrating that the execution of our strategic priorities continues to deliver solid financial and operational results for our shareholders and other stakeholders,” said Ken C. Hicks, chairman and CEO.

With the addition of 194 stores acquired in the Runners Point Group transaction, Foot Locker operated 3,495 stores in 23 countries in North America, Europe, Australia, and New Zealand as of August 3, 2013.

In addition, 45 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 24 Runners Point and Sidestep franchised stores, which were added as part of the RPG acquisition. 

 

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