E-commerce sales for Foot Locker Inc. in the second quarter grew by 5.6% while total sales declined by 1.6%.
For Q2, web sales for Foot Locker, No. 44 in the Internet Retailer Top 500 Guide, reached $57 million, compared with $54 million in Q2 2006. For the first six months of the year, web sales totaled $127 million, an increase of 6.7% from web sales of $119 million in the prior year.
Overall Foot Locker in the second quarter had a net loss of $1 million on revenue of $1.28 billion vs. net income of $73 million on sales of $1.3 billion in Q2 2006. Comparable store sales declined by 7.3%. “Our second quarter results reflected lower than expected sales and the impact of a strategic decision to significantly accelerate the clearance of slow-selling merchandise inventory in our U.S. stores,” says Foot Locker CEO Matthew D. Serra.
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