Foot Locker’s share price rose more than 5% in early trading on Friday May 20 after the company announced its first quarter of fiscal 2022 earnings results.
The company’s total sales jumped 1% for the three months ending April 30, although same-store sales fell about 2% in the same period, meaning shoppers are likely satisfied. their clothing and shoe fetishes by buying them online more often.
“We are off to a strong start in 2022, delivering a strong quarter against tough comparisons between fiscal stimulus and last year’s historically weak promotions,” Foot Locker chief executive Richard Johnson said in a statement. the company’s press release. “Our progress in expanding and enriching our assortment continues, as we continue to meet our customers’ demand for choice. These efforts contributed to strong first quarter results, and we believe they will allow us to participate more fully in the robust growth of our category in the future. »
Earlier this month, Foot Locker became Adidas’ premier basketball partner in a deal that will also accelerate so-called ‘energetic’ and ‘hype’ launches, and grow and expand the brand in the women’s, children’s and apparel sectors of the business.
Read more: Germany’s Adidas and Foot Locker strengthen their partnership around customer experience and connectivity
The partnership aims to reach more than $2 billion in retail sales by 2025 in North America; Europe, Middle East and Africa (EMEA); and Asia-Pacific (APAC). That number is nearly triple 2021 retail sales levels.
In April, Foot Locker’s Champs Sports chain rolled out a “store of the future” concept. New 35,000-square-foot “Homefield” outpost in South Florida features indoor multi-sports court, smoothie bar, flat-screen TVs in store aisles and wellness shopping section which allows customers to play and shop at the same time.
See more : Foot Locker’s Champs Sports enters experiential retail game to compete with Dick’s and Nike
NEW PYMNTS SURVEY FINDS 3 IN 4 CONSUMERS HAVING HIGH DEMAND FOR SUPER APPS
About: Results from PYMNTS’ new study, “The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy,” a collaboration with PayPal, analyzed responses from 9,904 consumers in Australia, Germany, UK and USA. and showed strong demand for one super multi-functional app rather than using dozens of individual apps.
https://www.pymnts.com/news/retail/2022/study-finds-70-of-us-consumers-skipping-retail-purchases-to-buy-groceries-and-gas/partial/
