The US sport retailer’s sales plummeted in the quarter which ended on May 2, falling by 43%. Stores are gradually reopening, but a major overhaul is on the cards, including closure of the Runners Point chain in Germany.
With North American retailers implementing store closures to combat the spread of Covid-19 since the weekend, Tuesday’s announcements have come from the likes of Macy's, Ralph Lauren, AEO, Foot Locker and Tapestry.
The New York-based sports and footwear retailer announced declines in its fourth-quarter revenues and earnings on Friday, as strong footwear sales failed to offset the negative effects of a disappointing holiday season.
Following a string of strong quarterly results, the American sportswear retailer reported declines in both sales and earnings in the second quarter ended August 3, 2019, falling short of Wall Street's expectations.
Sportswear retailer Foot Locker posted a net profit of $172 million (€153 million) in its first quarter of 2019, ended in early May, which is equivalent to an increase of 4.2% over the corresponding prior-year period.
U.S. sneaker company Foot Locker on Friday reported fourth quarter results that blew away estimates, with comparable sales recording close to 10% growth during the holiday season, and record sales made in 2018.
The retailer has announced that it is making an investment of $100 million in the sneaker resale platform, opening the door to synergies based on the companies’ respective strengths in physical and digital retail.