In its second-largest acquisition, Amazon buys the company for $970 million.
Total sales increased by 9% in the quarter.
The 2012 fiscal year has been good to Foot Locker Inc. so far, particularly e-commerce, which had strong sales growth for the third quarter and first nine months.
For the third quarter ended Oct. 27, Foot Locker, No. 54 in the 2012 Internet Retailer Top 500, reported:
- E-commerce sales, which Foot Locker terms direct-to-customers, of $149 million, an 18.3% increase from $126 million in the third quarter of 2011.
- Total sales of $1.52 billion, up by about 9.3% from $1.39 billion in the third quarter of 2011.
- Comparable-store sales increased by 10.2%.
- Net income of $106 million, a 60.6% increase from $66 million in Q3 2011.
Online sales represented 9.8% of total sales, compared with 9.1% in Q3 2011.
Foot Locker attributed e-commerce sales growth to the continued strong results of its main web sites and Eastbay.com, which sells outdoor apparel, shoes and equipment, all of which benefited from improved and new product offerings. “We continue to invest in our web sites, by providing entertaining, engaging content, as well as developing and optimizing the sites for smartphone and tablet use,” Foot Locker says.
For the first nine months:
- E-commerce sales, which Foot Locker terms direct-to-customers, of $409 million, a 17.5% increase from $348 million in the first nine month of last year.
- Total sales were $4.47 billion, up by about 8.5% from $4.12 billion.
- Comparable-store sales increased by 9.9%.
- Net income was $293 million, a 48.7% increase from $197 million through three quarters in 2011.
Online sales represented 9.1% of total sales, compared with 8.4% in the same period of 2011.
The company’s web sites include FootLocker.com, LadyFootLocker.com, KidsFootLocker.com, FootAction.com, ChampsSports.com and CCS.com. CCS.com carries skate and snowboard apparel and gear.