E-commerce sales for Foot Locker Inc. in the third quarter grew by 11.1% while total sales declined by 5.3%.
For Q3, web sales for Foot Locker, No. 44 in the Internet Retailer Top 500 Guide, reached $70 million, compared with $63 million in Q3 2006. For the first nine months of the year, web sales totaled $197 million, an increase of 8.2% from web sales of $182 million in the prior year.
Overall, Foot Locker in the third quarter had a net loss of $33 million on revenue of $1.35 billion vs. net income of $65 million on sales of $1.43 billion in Q3 2006.
Comparable store sales declined by 5%. “Our third quarter sales were disappointing, reflecting a challenging external environment and the lack of exciting fashion trends in athletic footwear and apparel,” says Foot Locker CEO Matthew D. Serra. “While our sales results fell short of our expectations, third quarter markdowns were approximately 12% lower than last year. Additionally, we continued to focus diligently on expense management.”