Web sales grow nearly 30% for Foot Locker in Q2

Same-store sales and web sales both grew for Foot Locker Inc. in the second quarter. But the web grew more than twice as fast.

For the second quarter ended July 30, Foot Locker, No. 53 in the Internet Retailer Top 500 Guide, reported:

• Web sales grew 28.2% to $91million from $71 million in the second quarter of 2010.
• Comparable-stores sales increased 11.8%.
• Total sales increased 26.7% to $1.28 billion from $1.01 billion.
• Net income increased year over year 516.7% to $37 million from $6 million.

Internet Retailer calculates the web accounted for 7.1% of total sales compared with 7.0% in the second quarter of 2010. “We were able to deliver strong sales and profit results in the second quarter, including a comparable-store sales gain of 11.8%,” says CEO Ken Hicks.

For the first two quarters:

• Web sales grew 27% to $198 million from $155.9 million in the first two quarters of 2010.
• Comparable-stores sales increased 12.3%.
• Total sales increased 14.3% to $2.72 billion from $2.38 billion.
• Net income increased year over year 118.3% to $131 million from $60 million.

 Internet Retailer calculates the web accounted for 7.3% of total sales compared with 6.6% in the first two quarters of 2010.