The manufacturer and retailer is upgrading its inventory management and supply chain systems to prepare for a global network of e-commerce sites.
In 2010 the web accounted for 7.8% of all sales.
Web sales took a decent hike upward for Foot Locker Inc. in 2010.
For the year ended Jan. 29, Foot Locker, No. 52 in the Internet Retailer Top 500 Guide, reported:
- Web sales of $395 million, a 14.8% increase from $344 million in 2009.
- Total sales increased about 3.9% to $5.04 billion this year, compared with sales of $4.85 billion in 2009.
- Comparable-store sales increased 5.8%.
- Net income was $169 million, an increase of 252.1% compared with net income of $48 million in the prior year.
Based on Internet Retailer calculations, the Internet represented 7.8% of all sales for Foot Locker in 2010 compared with 7.1% in 2009.
“We are very encouraged with the ongoing improvement in our operating performance, as the initial steps we are taking in executing our new strategic plan have led to positive strides toward achieving our long-term financial objectives,” says CEO Ken Hicks.
For the fourth quarter:
- Web sales increased 35.9% to $144 million from $106 million in Q4 2009.
- Total sales increased about 4.5%, to $1.39 billion this year, compared with sales of $1.33 billion in Q4 2009.
- Comparable-store sales increased 7.3%.
- Net income was $57 million, an increase of 147.8% compared with net income of $23 million in the prior year.
Based on Internet Retailer calculations, the Internet represented 10.4% of all sales for Foot Locker in the fourth quarter of 2010 compared with 8.0% in Q4 2009.