Foot Locker, Inc., the sports and footwear retailer based in New York, has announced a 3.9% growth in net sales for the third quarter ending on October 30, 2021. Despite facing challenges in the supply chain, the company managed to achieve net sales of $2.19 billion, compared to $2.11 billion in the same period last year. In constant currencies, sales increased by 3.6% during this period, and comparable-store sales saw a rise of 2.2%. This is a significant 13.3% increase compared to the pre-pandemic third quarter of 2019, which recorded sales of $1.93 billion.

The net income for Foot Locker in the third quarter was $158 million, or $1.52 per share, compared to $265 million, or $2.52 per share, in the same period of the previous year. In 2019, the net income for the same quarter was $125 million, or $1.16 per share.

Richard Johnson, the Chairman and CEO of Foot Locker, expressed his satisfaction with the company’s performance despite the ongoing challenges in the supply chain. He emphasized the strong bond that Foot Locker has established with its customers and acknowledged the successful back-to-school season from the previous year. Johnson also mentioned that Foot Locker completed its acquisitions of WSS and Atmos during the third quarter, expanding its brand portfolio to include Foot Locker, Kids Foot Locker, Champs Sports, and Eastbay.

In the year-to-date period, Foot Locker recorded sales of $6.62 billion, marking a 23.5% increase compared to the same period in 2020 and a 14.4% increase compared to the same period in 2019. In constant currencies, the year-over-year growth was 21.7%, and comparable-store sales showed a growth of 21.3%. The net income for the first nine months of the year amounted to $790 million, or $7.54 per share, compared to $200 million, or $1.91 per share, in 2020, and $357 million, or $3.23 per share, in the same period in 2019.

Looking ahead, Andrew Page, the EVP and CFO of Foot Locker, acknowledged the ongoing challenges in the supply chain but expressed confidence in the company’s ability to navigate through them. He mentioned that they anticipate the global supply chain disruptions to persist throughout the fourth quarter but believe that they are well-prepared for the holiday season, with positive momentum and adequate inventory levels to meet customer demand.

As of October 30, 2021, Foot Locker operated 2,956 stores in 27 countries across North America, Europe, Asia, Australia, and New Zealand. The company also had 136 franchise locations in the Middle East.

For more information on Foot Locker’s third-quarter performance, visit their official website.

To explore Foot Locker’s range of products, visit their online store.