US: Foot Locker revenue up 1.6% during Q3
Athletic retailer Foot Locker has reported sales of US$1.43bn for the third quarter 2006, versus $1.41bn in the comparable period last year, an increase of 1.6%.
Fot the nine month period ended 28 October 2006, sales increased 0.2% to $4.098bn, from $4.089bn in the company's corresponding period last year. Same-store sales for the first nine months of its 2006 fiscal year decreased 0.4%.
"For the third quarter of 2006, each of our North American and Asia/Pacific retail store divisions posted comparable-store sales increases in the low-to-mid single digit range," said Matthew Serra, Foot Locker chairman and CEO.
"These results were offset by the continuation of a challenging athletic retail environment in Europe that contributed to a high single-digit comparable-store sales decline at our business in that region. We are encouraged, however, that our comparable-store sales trend in Europe improved somewhat during the month of October from the previous two months and Foot Locker Europe's third quarter division profit margin rate is expected to be strong at the low double-digit level."
Foot Locker said it plans to report third quarter 2006 and year-to-date results on Thursday, 16 November and expects that earnings for the third quarter will be in the range of $0.39 to $0.41 per share.
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Foot Locker Inc today (20 April) launched a takeover bid for footwear, apparel and hat retailer Genesco Inc for $1.2bn or $46 per share....
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A "challenging" climate for athletic footwear and apparel in the US didn't stop Foot Locker from topping both year-ago profits and its own earnings guidance during the fourth quarter....
The board of directors at athletic retailer Foot Locker has declared a quarterly cash dividend on the company's common stock of US$0.125 per share....
Foot Locker saw sales for the 13-week period ended 27 January fall 0.6% to US$1.55bn, the sports retailer said in a trading update. Same-store sales for the period decreased 3.4%....
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