Foot Locker boosts sales by 3.8% and shrinks profit 6.8% in third quarter

Foot Locker ends the third quarter down. The American sportswear company has ended the third quarter with a net profit of 125 million dollars (112.8 million euros), 6.8% down from the same quarter year-on-year.

Group sales, on the other hand, dropped by 3.8%, to 1.9 billion dollars (1.7 billion euros). In comparable sales it increased 5.7%. The company has recently acquired a three million euros stake in the urban fashion ecommerce company Ntwrk, an American startup that merges video with commerce.

“We are pleased with our performance in the quarter, which reflects the success of our strategic focus on building even deeper connections with our customers and further strengthening relationships with our vendors,” stated Richard Johnson, chairman and chief executive officer.