In its second-largest acquisition, Amazon buys the company for $970 million.
Web sales and total sales increase 10.5% and 5.4%, respectively.
Foot Locker Inc. stepped up its third quarter sales across the board, including online.
For the quarter ended October 30, Foot Locker reported:
- Web sales of $95 million, a 10.5% increase from $86 million in the third quarter of 2009.
- Total sales increased about 5.8%, to $1.28 billion this year, compared with sales of $1.21 billion in the year-ago quarter.
- Comparable-store sales increased 8.1%.
- Net income was $52 million, compared with a net loss of $6 million in the prior-year period.
Based on Internet Retailer calculations, the Internet represented 7.4% of all sales for the quarter for Foot Locker, No. 52 in the Internet Retailer Top 500 Guide, compared with 7.1% in the same period last year.
“It is encouraging that our increased sales and earnings reflect meaningful improvements in each of our operating divisions in the U.S., as well as in our largest international markets,” says Ken C. Hicks, Foot Locker’s chairman and CEO. Foot Locker has operations in Canada, the UK, France, Germany and Spain.
For the first nine months of 2010, Footlocker reported:
- Web sales of $251 million, a 5.5% increase from $161.9 million in the prior year period.
- Total sales of $3.65 billion, a 3.6% increase from $3.52 billion last year.
- Comparable-store sales increased 5.2%.
- Net income of $112 million, compared with net income of $25 million.
Based on Internet Retailer calculations, the Internet represented 6.9% of sales through nine months of 2010, compared with 4.6% in the same period last year.
Footlocker’s e-commerce sites include FootLocker.com, LadyFootLocker.com, KidsFootLocker.com, Eastbay.com, FootAction.com, ChampsSports.com and CCS.com.