Foot Locker international operations' Comp Store sales flat in Q3
05 Nov '05
3 min read
Footwear, apparel & accessories chain retailer Foot Locker Inc reported sales for the 13-week period ended October 29, 2005 of $1,407 million, versus $1,366 million in the comparable period last year, an increase of 3.0 percent. For this same 13-week period, comparable store sales increased 2.7 percent.
For the 39-week period ended October 29, 2005, sales increased 7.0 percent to $4,088 million, from $3,820 million in the Company's corresponding period last year. Comparable-store sales for the Company's first nine months of its 2005 fiscal year increased 2.2 percent.
Excluding the effect of foreign currency fluctuations, total sales for the 13-week and 39-week periods increased 2.6 percent and 6.2 percent, respectively.
Comparable store sales for the Company's third fiscal quarter reflected a mid-single digit increase at its combined US businesses, led by strong increases at Footaction and Champs Sports. The Company's international operations posted comparable store sales that were flat with last year, including a very low-single digit decrease at its European stores.
The recent merchandising initiatives at their European business have contributed to an improving sales trend during the third quarter versus the first six months of this year. These initiatives included increasing their promotional posture in select European markets -- a strategy designed to reduce their inventory growth rate and better compete in a more competitive environment.