Foot Locker has reported a 74.1 percent increase in net profit for the first quarter ended April 30 to $94 million, as sales went up by 12.8 percent on a comparable store basis. Total revenues went up 13.3 percent to $1.45 billion, up by 12.0 percent in local currencies.
The group's performance in the U.S. exceeded the company's expectations. Elsewhere, Foot Locker enjoyed a mid-single-digit increase in same-store sales, as predicted, with Europe performing most strongly.
During the first quarter, the company opened 18 new stores, remodeled or relocated 48 others and closed 24 doors across the world. It ended the period with 3,420 stores in 22 countries in North America, Europe, Australia, and New Zealand. In addition, it had 27 Foot Locker franchises in the Middle East and South Korea.
