FINANCE

Foot Locker Q2 up 12%

BY Marianne Wilson

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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News

Sur La Table deploys eCommera solution to advance omni-channel strategy

BY Marianne Wilson

Redwood City, Calif. — Sur La Table is deploying eCommera’s DynamicAction SaaS solution, which provides timely analysis of marketing, merchandising and inventory data, giving Sur La Table actionable insights and recommended business changes to improve omni-channel performance.

DynamicAction collects, integrates and analyzes thousands of data sources — ranging from third-party media analytics and attribution data to a retailer’s own inventory systems and ecommerce platform data — offering a single view of profit optimization to retailers across their entire business.

“We have passionate customers who use our site to research prior to purchasing in-store, to curate and share product collections, as well as for ultimately purchasing,” said Kevin Ertell, VP of eCommerce for Sur La Table. “The more clearly we can view our website, social media and offline channels as a holistic customer experience, the more we will understand how to inspire their passions, aid their purchase processes and create seamless brand interactions.”

The insights and recommendations Sur La Table receives will be ranked by factors such as profitability impact, media waste, product availability and customer purchase history to allow for a single view of profit and therefore effective business decisions across the organization. Each action that could be taken to increase profitability is ranked by the “size of the prize” to the organization and can be initiated and tracked within one click.

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OPERATIONS

Kinney Drugs names new president

BY Staff Writer

Gouverneur, N.Y. — Kinney Drugs Inc. announced that Jim Spencer, formerly COO, has been promoted to president of Kinney Drug stores. In this expanded role, Spencer will be responsible for the total customer experience and strategic growth of our retail drug stores.

In addition to overseeing pharmacy and retail operations, marketing, and merchandising, he will assume oversight responsibilities for logistics.

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