Foot Locker, Inc. reported financial results for its second quarter, the period ended 2nd August. Net income for the company’s second quarter stood at 92 million US dollars (0.63 US dollars per share) compared with net income of 66 million US dollars (0.44 US dollars per share) in similar period last year, a 39.4% increase.

Total second quarter sales increased 12.9%, to 1 641 million US dollars this year, compared with sales of 1 454 million US dollars for the corresponding prior-year period. Excluding the effect of foreign currency fluctuations, total sales for the second quarter increased 11.7%. The company’s gross margin rate increased to 32.0% of sales from 31.2% in the second quarter of 2013.

During the second quarter, the company opened 14 new stores, remodeled/relocated 112 stores and closed 18 stores. As of the 2nd of August Foot Locker operated 3 460 stores in 23 countries in North America, Europe, Australia, and New Zealand. In addition, 47 franchised Foot Locker stores were operating in the Middle East and South Korea, as well as 27 franchised Runners Point and Sidestep stores in Germany and Switzerland.

“The team at Foot Locker once again achieved record levels of sales and profits in the second quarter, and I am extremely proud of their efforts” commented Ken C. Hicks, Chairman of the Board and Chief Executive Officer, while adding: “We delivered excellent financial and operational results through the outstanding execution of our strategic priorities. This continues to be a winning formula for us, and we remain committed to taking full advantage of the many opportunities we have identified - over the near, intermediate, and longer terms - to continue producing a consistent, strong performance.”

Net income for the company’s first six months of the year increased to 254 million US dollars, or 1.73 US dollars per share, compared to net income of 204 million US dollars, or 1.34 US dollars per share, for the corresponding period in 2013. Earnings per share for the six months period increased 29% compared to the same period in 2013. Year-to-date sales were 3 509 million US dollars, an increase of 13.5% compared to sales of 3 092 million US dollars in the corresponding six-month period of 2013. Year-to-date comparable store sales increased 7.3%. Excluding the effect of foreign currency fluctuations, total sales year-to-date increased 12.6%.

Foot Locker, Inc. shares were last traded at 55.37 US dollars at the New York Stock Exchange on the 26th of August.

For more information about Foot Locker please refer to the company’s website.