**Foot Locker Reports a 10% Fall in First-Half Sales**.
**New York – ** Foot Locker, Inc. announced on Thursday a 10% decline in its first-half sales, as the athletic footwear and apparel retailer continues to grapple with the challenges of the ongoing COVID-19 pandemic and supply chain disruptions..
Total sales for the six months ended July 31, 2022, were $4.29 billion, compared with $4.76 billion in the same period last year. Comparable store sales decreased by 10.4% during the first half of 2022..
The company’s net income fell by 34.8% to $239.2 million, or $1.38 per diluted share, down from $366.9 million, or $2.11 per diluted share, in the first half of 2021..
Foot Locker attributed the decline in sales to a number of factors, including:.
* The ongoing impact of the COVID-19 pandemic, which has led to store closures and reduced foot traffic in malls and shopping centers..
* Supply chain disruptions, which have made it difficult for the company to get products to its stores and customers..
* Increased competition from online retailers and other athletic footwear and apparel brands..
Despite the challenges, Foot Locker said it is taking steps to improve its performance, such as:.
* Investing in its digital and omnichannel capabilities to provide customers with a seamless shopping experience..
* Expanding its product assortment to include more exclusive and limited-edition items..
* Enhancing its loyalty program to build stronger customer relationships..
