US athletic retailer Foot Locker has reported a break-even earnings performance for the second quarter, compared with a profit of $18m last time, amid slumping sales.

Second quarter sales decreased 15.6% to $1bn this year compared with sales of $1.3m for the corresponding prior year period.

Same-store sales decreased 12.1% for the quarter.

"The impact of lower than anticipated sales in our US businesses on our second quarter earnings were mitigated by the aggressive actions we took to control expenses and inventories," said Matthew D Serra, Foot Locker's chairman.

"We successfully offset some of the impact of our sales shortfall by reducing our selling, general and administrative expenses, negotiating favorable occupancy costs and benefiting from lower depreciation expense.

"Additionally, we benefited during the quarter from our improved inventory position, as our total markdown activity was favorable to last year."

During the first six months of the year, the company opened 26 new stores, remodelled/relocated 89 stores and closed 52 stores, it said.

It operates 3,615 stores in 21 countries in North America, Europe and Australia, and 19 franchised stores in the Middle East and South Korea.

Click here to read the company's entire second quarter financial release.