At the core of the company’s second quarter success was a 173% increase in sales from its direct-to-consumer channels, offsetting a 7.6% decline of in-store sales. DTC sales made up 33.2% of total sales, up from 14.3% in the same quarter last year.
While the company didn’t provide projections for the rest of 2020, the quarter was solid enough for the Foot Locker board of directors to reinstate its quarterly dividend program of $0.15 per share.
Notable earnings reports this week:
8/25: Anta Sports
8/26: Dick’s Sporting Goods