- Huw Hughes
-
|
Foot Locker has reported an 18 percent increase in comparable store
sales for the second quarter ending 1 August.
The New York-based footwear retailer said diluted earnings per share for
the quarter are expected to be 0.38 to 0.42 dollars per share versus 0.55
dollars per share last year.
Those figures include pre-tax charges of around 19 million dollars
related to the wind down of the Runners Point banner and the Eastbay
restructuring, as well as around 18 million dollars for “costs incurred in
connection with the recent social unrest”.
“In the midst of the Covid pandemic, our team delivered strong
second-quarter results,” said CEO Richard Johnson in a statement. “As we
continued to reopen stores throughout the quarter, we saw a strong customer
response to our assortments, which we believe was aided by pent-up demand
and the effect of fiscal stimulus. This fueled our in-store sales and also
drove continued momentum across our digital channels.
“While these undoubtedly remain challenging times, we are nonetheless
pleased by the health of our category, our deep connections with our
customers, and the strength of our vendor relationships.”
Executive vice president and chief financial officer Lauren Peters
added: “Despite gross margin pressure from channel mix shift and a highly
promotional environment, we were able to return to positive earnings per
share due to the meaningful lift in top-line sales and disciplined expense
management.”
Foot Locker is set to report its Q2 results on 21 August.
Photo credit: Foot Locker
