Foot Locker reported a 61 percent increase in net income to $106 million for the third quarter ended Oct. 27, thanks in part to a $9 million tax benefit from a foreign audit. Global revenues grew by 9.3 percent to $1,524 million, with a rise of 11.0 percent in local currencies. On a same-store basis, sales grew in dollar terms by 10.2 percent, with its physical stores improving by 9.4 percent and its e-commerce operations rising by 18.3 percent.

In Europe, same-store sales were flat compared with the same quarter one year ago. While they began to recover in August and September, European sales softened in October and early November. The operating profits of the European stores rose in the quarter, in spite of higher markdowns.

Same-store sales were up by a low double-digit rate in the U.S. during the quarter, and they continued to rise in the mid-single digits in November, in spite of the devastation brought by Hurricane Sandy on the East Coast of the country.

The company is introducing e-commerce in Italy and other European countries. According to company officials, classic basketball models are become more relevant in Europe, while the running trend is weakening. Foot Locker's apparel business is growing strongly in the U.S., but declining slightly in Europe on a comparable store basis.

On the other hand, the total number of stores operated by the group is shrinking. It comprised a total of 3,367 stores in 23 countries at the end of the period. For the full year, it will have 35 doors fewer than one year earlier by the end of 2012. The net door count should again be off by 13 to 15 units next year, in spite of possible expansion in Europe and the planned rollout of new store formats.

The performance-oriented Locker Room concept is not yet generating the expected results in Europe, but the management plans to test it in less promotional environments in order to decide on future plans.

Foot Locker is preparing to launch a new store concept targeting performance-minded women, starting with three U.S. stores by the end of the year. The SIX:02 format will focus on fitness apparel and athletic footwear. The offering will include the leading sports brands as well as upcoming fitness brands like Pink Lotus, Colosseum and Spanx.