Foot Locker, Inc. reported total sales for the fiscal second quarter decreased 9.9 percent, to $1.86 billion, compared with sales of $2.07 million in the second quarter of 2022. Excluding foreign exchange rate fluctuations, total sales for the second quarter ended July 29 decreased by 10.2 percent.
Comparable-store sales decreased by 9.4 percent, driven by ongoing consumer softness, changing vendor mix and the repositioning of Champs Sports.
Foot Locker, Inc. had a loss of $5 million in the second quarter compared to net income of $94 million in the corresponding prior-year period. On a non-GAAP basis, net income was $4 million, compared with $105 million in the corresponding prior-year period.
For the quarter, FL had a net loss of 5 cents per share, as compared with income of 99 cents per share in the second quarter of 2022. Non-GAAP earnings per share decreased to 4 cents per share, compared with $1.10 per share in the corresponding prior-year period.
For full details about second quarter results for Foot Locker and commentary from company executives, including the Lace Up plan, closing stores, repositioning Champs, shuttering Sidestep and retail theft impacting margins, go here:
EXEC: On the Call with Foot Locker Execs Talking Q2 Business Trends, Weaker Future Outlook
Photo courtesy Foot Locker, Inc.
