Foot Locker, the North American chain of sports clothing and footwear, has obtained net profits of 94 million dollars (93.5 million euros) during the second quarter of 2022, which is equivalent to a decrease of 78.1% compared to the previous quarter. same period of the previous year.
Thus, according to the president and CEO of Foot Locker, Richard Johnson, “despite the increasingly challenging macroeconomic environment, we achieved a solid quarter compared to the favorable environment last year due to promotions and fiscal stimuli.”
Regarding turnover, the American multinational achieved 2,065 million dollars (2,053.6 million euros), 9.2% less than in the same year of the previous year. However, the company has explained that, if exchange rate fluctuations are not taken into account, sales only fell by 6.1% compared to 2021.
On the other hand, despite the fact that the costs associated with sales fell by 4.5% compared to the previous year, they continued to be 1,441 million dollars (1,403.2 million euros). Similarly, selling, general and administrative expenses stood at 452 million dollars (449.5 million euros), practically unchanged from the second quarter of the previous fiscal year.
If the semi-annual results are taken into account. The company registered net benefits worth 226 million dollars (224.8 million euros), 64.2% less. At the same time, turnover in the semester was 4,240 million (4,216.6 million euros), 4.2% more.
Looking ahead, exchange rate pressures have forced the company to lower its forecasts for the year as a whole. Foot Locker expects its annual turnover to fall between 6% and 7%, compared to the previous forecast of between 4% and 6%.
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