Foot Locker records $172 million in net profit in first quarter, up 4.2%

Sportswear retailer Foot Locker posted a net profit of $172 million (€153 million) in its first quarter of 2019, ended in early May, which is equivalent to an increase of 4.2% over the corresponding prior-year period.

Turnover reached €2.08 billion (€1,86 billion) in its first three fiscal months, up 2.6%.

The cost of sales rose by 2.2% to reach 1.39 billion dollars, while sales, general and administrative expenses rose to 416 million dollars, an increase of 8.1%.

“We started the year with great energy, innovative products,and exciting customer events, leading to solid top-line growth in the first quarterwith strong performanceacross our regions, banners, channels, and categories,” said Richard Johnson, president and Chief Executive Officer.

“Based on the momentum we have underway, we feel confident that theupdated strategic imperativeswe introducedat our Investor Day in March position usto deliver on our long-term goals.”