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Foot Locker makes senior management changes
New York City -- Foot Locker announced a series of organizational changes designed to enhance its focus on its two key business units -- retail stores and direct-to-customer, and to strengthen the operations supporting each unit. The changes will take effect as of July 1.
The company will consolidate the reporting of all its retail store businesses under Richard A. Johnson, who will be promoted to executive VP and group president – retail stores. He will be responsible for all of Foot Locker’s domestic and international store banners.
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Foot Locker Q1 profit soars 76%
New York City -- Foot Locker said on Thursday that its first-quarter profit jumped 76% as sales rose sharply. The retailer, which has benefited from efforts to cut costs and close dozens of poorly performing locations, said it earned $94 million for the quarter that ended April 30.
Sales increased 13% to $1.45 billion, from $1.28 billion a year earlier. Same-store sales rose 12.8%. The results easily beat the average estimates of analysts.
