The Chinese e-commerce giant will have $8 billion in cash after its IPO as well as valuable stock it can use for acquisitions. The ...
The web accounted for about 6.6% of total sales in Q1, down slightly from the previous year.
Foot Locker Inc. reported web sales increases online and in stores for the first quarter of fiscal 2010.
For the quarter ended May 1, Foot Locker reported:
- Web sales were $85 million, a 2.4% increase from $83 million in the prior year quarter.
- Total sales were $1.281 billion, up by 5.3% from $1.216 billion.
- Comparable-store sales increased by 4.8%.
- Net income was $54 million, a 74.2% increase from $31 million in Q1 2009.
E-commerce represented 6.6% of sales, compared with 6.8% in the same quarter last year, according to Internet Retailer estimates.
Foot Locker operates FootLocker.com, LadyFootLocker.com, Eastbay.com, FootAction.com, KidsFootLocker.com, ChampsSports.com and CCS.com, which sell footwear and accessories, fan gear, and skateboarding equipment.
During the first quarter, Foot Locker, No. 52 in the Internet Retailer Top 500 Guide, opened 14 new stores, remodeled or relocated 42 stores and closed 29. As of May 1, the company operated 3,485 stores in 21 countries.