Foot Locker, Inc. has reported financial results for its second quarter of 2021.
- The company reported net income of $430 million, compared to year-over-year net income of $60 million earned in the second quarter of 2019.
- Second quarter comparable-store sales increased by 6.9%.
- Total sales increased by 9.5%, to $2,275 million in the second quarter of 2021.
- For the first six months of the year, the company posted a net income of $632 million.
- Year-to-date sales were $4,428 million, an increase of 36.1% compared to the sales of $3,253 million in the corresponding 6-months of 2020.
“Our strong performance this quarter reflects the health of our category, the deep engagement we have with our customers, and the strategic nature of our relationships with our vendor partners. This quarter reflects strong results in our women’s and kids’ footwear business along with broad demand for our apparel and accessories offerings, which combined with more limited promotional activity, led to the outstanding top and bottom line results,” said Richard Johnson, Chairman and Chief Executive Officer.
Earlier this month, Foot Locker announced it was buying two retail chains as it looks to grow its footprint and accelerate its expansion in the premium fashion sneaker market. The company also invested $36 million in its store fleet, digital capabilities, supply chain and other infrastructure during Q2.