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Foot Locker‘s net income up by 33%

Aug 24, 2015 United States
Foot Locker‘s net income up by 33%
US-based company announced second quarter results, marked by a positive performance of sales and dynamic growth in net income

“We extended the momentum with which we started 2015, generating outstanding quarterly sales and profits in the second quarter”, stated Richard Johnson, President and Chief Executive Officer, adding: “We continued to achieve broad-based and consistent strength across geographies, banners, channels, and categories. While we work every day to build on our position as a leading global retailer in the athletic industry and produce consistent improvement in our operational and financial performance, I want to pause to acknowledge the incredible team we have at our company and thank each of them for their contributions in producing these excellent first half results.”

Total sales for the quarter increased by 3.3%, reaching 1 695 million US dollars, compared with sales of 1 641 million US dollars for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the second quarter increased 9.9%.

Foot Locker’s net income for the second quarter ended totaled 119 million US dollars (0.84 US dollars per share) compared with 92 million US dollars (0.63 US dollars per share), a 33% increase.

Year-to-date sales totaled 3 611 million US dollars, increasing by 2.9% compared to sales of 3 509 million US dollars in the corresponding six-month period of 2014. Year-to-date comparable store sales have increased 8.7%. Excluding the effect of foreign currency fluctuations, total sales year-to-date have increased 8.9%.

Net income for the Foot Locker’s first six months of the year increased to 303 million US dollars (2.14 US dollars per share) compared to net income of 254 million US dollars (1.73 US dollars per share) in similar period in 2014.

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