Foot Locker Sales and Profits Gain, Lapping Start of Pandemic
The first quarter bottom line swung back to $202 million in profit against a loss of $110 million last year as sales rose 83% (+79% CC) to $2,153 million from $1,176 million, and improved 4% compared to Q1 ’19. Stores comped up 80.3% for the quarter. A mid-teens decline in February due to calendar shifts for inventory delays and delayed tax refunds was more than offset by a triple-digit boost in both Mar. and Apr. as stores lapped pandemic closures. The fleet was open an average 83% of operating days versus 48% last year. U.S. and APAC stores were nearly ... Log in to view full article.