The Top 500 retailer buys Campus Deals, which offers mobile coupons to college students.
Foot Locker web sales climb 3% in Q2
E-commerce and same-store sales increased, but total revenue dropped.
Foot Locker Inc. reported a slight increase in web sales for the second quarter of fiscal 2010, but total sales were flat.
For the quarter ended July 31, Foot Locker reported:
- Web sales were $71 million, an increase of 2.9% from $69 million in the prior year quarter.
- Total sales declined 0.3% to $1.096 billion from $1.099 billion in the second quarter of 2009.
- Comparable-store sales increased by 2.5%.
- Net income was $6 million, compared with break even in Q2 2009.
E-commerce represented 6.5% of sales, compared with 6.3% in the same quarter last year, according to Internet Retailer estimates.
“Our significantly improved inventory position facilitated our ability to drive higher-margin sales by being more selective with our promotional activity while at the same time being more responsive to changes in consumer fashion trends,” says CEO Ken C. Hicks.
For the first two quarters, Foot Locker, No. 52 in the Internet Retailer Top 500 Guide, reported:
- Web sales were $156 million, a 2.6% increase from $152 million in the first two quarters of the prior year.
- Total sales increased 2.6% to $2.37 billion from $2.31 billion in the first two quarters of 2009.
- Comparable-store sales increased 3.7%.
- Net income was $60 million, up 94% from $31 million in the first two quarters of 2009.
E-commerce represented 6.6% of sales, the same as in the first two quarters 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.