Home / Knowledge / News / Retail / Foot Locker sales jump 17.1% to $2.0 bn in Q2 FY20

Foot Locker sales jump 17.1% to $2.0 bn in Q2 FY20

18
Sep '20
Pic: Shutterstock
Pic: Shutterstock
Foot Locker, a US-based specialty athletic retailer, has announced financial results for its second quarter (Q2) fiscal 2020 ended on August 1. Sales for the quarter rose 17.1 per cent to $2.0 billion compared to the sales of $1.7 billion in the same period previous fiscal. Company net income for Q2 FY20 came down to $45 million (Q2 FY19: $60 million).
 
“Despite the challenging backdrop of the pandemic, and social unrest, we achieved strong second quarter results, led by our digital business, with a return to growth in both the top and bottom line. As our global fleet of stores reopened, our customers responded with enthusiasm and energy to our assortments and visited our stores with a high intent to purchase,” Richard Johnson, president and chief executive officer at Foot Locker, said in a press release.
 
Cost of sales for the quarter was $1.5 billion ($1.2 billion). Selling, general & administrative expenses were $387 million ($393 million). Company’s income from operations was down to $69 million ($81 million).
 
“As the Covid-19 situation continues to evolve, we believe we have the right strategies and strong leadership in place to strengthen our customer connectivity, deepen our strategic relationships with our vendors, navigate the challenges ahead, and emerge from this period better positioned than ever,” Johnson said.
 
During the second quarter, Foot Locker opened 18 new stores, remodelled or relocated 26 stores and closed 31 stores. As of August 1, 2020, company operated 3,100 stores in 27 countries in North America, Europe, Asia, Australia, and New Zealand.

Fibre2Fashion News Desk (JL)


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 26th Oct 2020

25% Bangla garment manufacturing to be automated by 2023

A quarter of garment manufacturing activities in Bangladesh will be...

Pic: Shutterstock

Textiles | On 26th Oct 2020

BCI to cease all field-level activities in China's XUAR

Sustained allegations of forced labour and other human rights abuses...

Pic: Burberry

Information Technology | On 26th Oct 2020

Burberry launches gaming technology for fashion design

Burberry, and digital production agency, Koffeecup have joined hands...

Interviews View All

Top executives, Fashion houses, India

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Textile industry, Head honchos

Textile industry
Head honchos

Relaxation in FDI norms will support growth of retail sector

Ritu Ajbani & Neha Agarwal,

Ritu Ajbani & Neha Agarwal

Petit Royal, co-founded by entrepreneurs <b>Ritu Ajbani and Neha...

Kamal Kulshreshth,

Kamal Kulshreshth

Colorjet is among the fastest-growing wide format digital inkjet print...

Carmen Silla,

Carmen Silla

Leading the transformation of the textiles industry with disruptive...

Wolfgang Plasser, Lenzing AG

Wolfgang Plasser
Lenzing AG

The Lenzing Group is an international company headquartered in Austria...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Ray Baughman, University of Texas -Dallas

Ray Baughman
University of Texas -Dallas

<div>A team of scientists and researchers have discovered twistrons,...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao, Nayaab

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella, Prathyusha Garimella

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


October 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search