Geeknet terminates a purchase agreement with Hot Topic and accepts a $20 per share bid by GameStop.
Year-to-date e-commerce sales top 23%.
Foot Locker Inc.’s run-up to the holidays showed strong sales growth across the board.
For the quarter ended Oct. 29, Foot Locker, No. 53 in the Internet Retailer Top 500 Guide, reported:
- Internet sales were $111 million, up by 16.8% from $95 million in Q3 of 2010.
- Total sales were $1.39 billion, an increase of about 8.6% from $1.28 billion.
- Comparable-store sales increased 7.4%.
- Net income was $66 million, compared with net income of $52 million in Q3 of 2010.
Internet Retailer calculates the web accounted for 8.0% of sales for the quarter, compared with 7.4% in Q3 of 2010.
For the first nine months:
- Online sales were $309 million, up by 23.1% from $251 million through the first nine months of 2010.
- Total sales increased 12.8%, to $4.12 billion from $3.65 billion.
- Comparable-store sales increased 10.6%.
- Net income increased 75.9% to $197 million, compared with net income of $112 million in the same period last year.
Internet Retailer calculates the web accounted for 7.5% of sales for the period, compared with 6.9% in the first nine months of 2010.
Online sales increases were attributed mainly to continued strong sales on Eastbay.com, as well as enhancements made to the company’s other web sites, “all of which benefited from improved and fresh product offerings,” Foot Locker says. The company’s web sites include FootLocker.com, LadyFootLocker.com, KidsFootLocker.com, FootAction.com, ChampsSports.com and CCS.com.