Foot Locker, Inc. has reported its financial results for the second quarter ended August 2, 2025. The company's total sales were down 2.4%, amounting to $1,851 million compared to $1,896 million in the same period last year. Excluding the effects of foreign exchange rate fluctuations, total sales decreased by 3.7%. Comparable sales decreased by 2.0%, with North American comparable sales generating a 1.4% increase. The gross margin decreased by 50 basis points, and SG&A as a percentage of sales increased by 20 basis points. The net loss for the quarter was $38 million, compared to a net loss of $12 million in the prior-year period. The loss per share was $0.39, as compared with a loss per share of $0.13 in the second quarter of 2024.
Furthermore, as of August 2, 2025, the company had cash and cash equivalents of $299 million and total debt of $444 million. The merchandise inventories were $1,709 million, 3.7% higher than at the end of the second quarter last year, largely due to a strategic pull-forward of fall product and foreign exchange currency fluctuations.
In terms of store operations, Foot Locker opened two new stores, closed 11 stores, remodeled or relocated 14 stores, and refreshed 52 stores to updated design standards during the second quarter. As of August 2, 2025, the company operated 2,354 stores in 20 countries in North America, Europe, Asia, Australia, and New Zealand, with an additional 243 licensed stores operating in the Middle East, Europe, and Asia.
The company's planned acquisition by Dick's Sporting Goods is expected to close on September 8, 2025. As a result, Foot Locker will not hold a conference call to discuss its second quarter 2025 results and will not be providing, or updating previously issued, financial guidance. As a result of these announcements, the company's shares have moved 0.21% on the market, and are now trading at a price of $26.545. Check out the company's full 8-K submission here.
