• Q2 profit increases 59.5% to US$59m 
  • Gross margin up 90 basis points 
  • Sales up 7.2% to $1.67bn

Sportswear retailer Foot Locker has booked a 59.5% rise in second-quarter net profit on the back of a positive sales performance in North America and Europe.

Net income surged to US$59m for the quarter ended 28 July, compared to $37m last year. Gross margin rose by 90 basis points.

Sales increased 7.2% to $1.67bn, while comparable store sales jumped 9.8%. Excluding the effect of foreign currency fluctuations, total sales were up 10.6%.

"We have achieved consistently strong financial and operational results since we began implementing our long-term plan over two years ago," said Ken Hicks, chairman and CEO.

"This consistency was also evident with the good profitability we achieved this quarter across our divisions, from the North American stores, to Europe, and to our direct-to-customer business."

During the first half of the year, the company opened 47 new stores, remodeled/relocated 109 and closed 62, taking its total number of stores to 3,354.