"Following our solid results for the second quarter, against record results last year, we remain confident in our ability to achieve earnings within our original guidance range. In addition, 148 franchised stores were operating in the Middle East and Asia. The company said the current inventory quality and aging are healthy, positioning the Company well for the Back-to-School season and the third quarter overall.ĭuring the second quarter, the company opened 34 new stores, remodeled or relocated 24 stores, and closed 50 stores.Īs at the end of the second quarter, the Company operated 2,799 stores in 28 countries in North America, Europe, Asia, Australia, and New Zealand. Gross margin declined by 340 basis points compared with the prior-year period, driven mainly by higher markdowns "Despite an increasingly challenging macroeconomic backdrop, we delivered a solid quarter against the favorable fiscal stimulus and promotional environment from last year," said Richard Johnson, Chairman and Chief Executive Officer. Comparable-store sales decreased 10.3 percent. The Street was looking for revenues of $2.07 billion for the quarter.Įxcluding the effect of foreign exchange rate fluctuations, total sales were down 6.1 percent. Total sales for the quarter declined 9.2 percent to $2.07 billion from $2.28 billion in the same quarter last year. ( BKE) also reported a net profit for the second quarter that declined from last year, but topped analysts' expectations, while quarterly net sales increased but missed estimates.įoot Locker is currently trading on the NYSE at $39.35, up $7.37 or 23.0 percent.įoot Locker reported that net income for the second quarter plunged to $94 million or $0.99 per share from $430 million or $4.09 per share in the prior-year quarter.Įxcluding items, adjusted earnings for the quarter was $1.10 per share, compared to $2.09 per share in the year-ago quarter. The company also trimmed it adjusted earnings and sales growth guidance for the full-year 2022.ĭenim retailer Buckle, Inc. ( FL) reported Friday a second-quarter net profit that plunged from last year, hurt by a sales decline amid markdowns.
Specialty athletic retailer Foot Locker, Inc.
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