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Foot Locker posts $38 mn Q2 loss, $8.6 bn Dick's merger on track

Foot Locker has reported a second quarter loss as weaker sales and regional declines weighed on performance, while its pending merger with Dick Sporting Goods moved closer to completion. For the quarter ended August *, ****, total sales slipped *.* per cent to $*.** billion from $*.*** billion a year earlier, or down *.* per cent excluding currency effects.

Comparable sales fell * per cent, though North America posted a *.* per cent gain, excluding WSS up *.* per cent, and Champs Sports delivered a fourth consecutive quarter of positive comparable growth at * per cent. These gains were offset by a **.* per cent decline in Europe and Asia Pacific.