Madison Reed has raised $32.1 million since launching 15 months ago.
E-commerce revenue was the only bright spot in a flat first quarter for Foot Locker Inc. For Q1 2006 Foot Locker posted e-commerce revenue of $65 million compared with $56 million in Q1 2005.
Foot Locker Inc. increased its web sales 16% in the first quarter of 2006 while total sales declined by 1%.
For Q1 2006 Foot Locker posted e-commerce revenue of $65 million and total sales of $1.36 billion, compared with web sales of $56 million and total sales of $1.37 billion in the first quarter of 2005. “Increases in Internet sales were offset, in part, by a decline in catalog sales, reflecting the continuing trend of the company’s customers to browse and select products through its catalogs, then make their purchases via the Internet,” Foot Locker says in its recently filed 10Q with the Securities and Exchange Commission.
In addition to operating its own commerce-enabled sites-FootLocker.com, WorldFootLocker.com, LadyFootLocker.com, KidsFootLocker.com, Eastbay.com, Footaction.com and ChampsSports.com-Foot Locker, No. 44 in the Internet Retailer Top 500 Guide to Retail Web Sites, also has provided third party e-commerce or fulfillment services to the National Football League, ESPN, the National Basketball Association and others.
In Q1 2006 the web represented 5% of Foot Locker’s total sales vs. 4% for the same period last year.