Web sales outpaced overall sales and comparable-store sales in the first quarter of 2009 at Foot Locker Inc.
E-commerce sales increased by 10.7% from $75 million in Q1 2008 to $83 million in the first quarter of 2009, ended May 2, while overall sales declined about 7.1% to $1.21 billion from $1.31 billion in the previous year quarter, and comparable-store sales fell 2.1%.
The web accounted for about 6.9% of all sales in the first quarter of 2009 compared with 5.7% in Q1 2008.
Net income for Q1 2009 was $31 million compared with net income of $3 million in the first quarter last year.
During the first quarter of 2009 Foot Locker completed a new, four-year, $200 million line of revolving credit with its banks. The company also opened 16 new stores, remodeled or relocated 47 stores, and closed 24 stores. Foot Locker operates 3,633 stores in 21 countries in North America, Europe and Australia.
Foot Locker is No. 53 in the Internet Retailer Top 500 Guide.
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