Foot Locker (FL) Slows Its Growth Pace To A Jog

on September 19 2013 3:07 PM
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A man shops for shoes at a Foot Locker store in New York. REUTERS/Shannon Stapleton

Foot Locker, Inc. (NYSE:FL) appears to have steadied its pace to a jog.

Two weeks after the footwear retailer posted second-quarter results in line with expectations, analysts at Valuentum Securities Inc. said the company’s growth is quickly slowing.

“We think one of the issues driving the comp deceleration is that Nike (NYSE:NKE) isn’t raising prices at the same magnitude it was only a few years ago,” they wrote in a note.

Earlier this week, Foot Locker rolled out a new e-retail site to sell women’s apparel, footwear and accessories.

SIX:02.com, based on similar brick-and-mortar stores that launched in 2012, could help boost sales, which were down in the same-store category last month.

“SIX:02 has been well-received in the local communities where we have opened stores,” Natalie Ellis, vice president of general manager of SIX:02.com, so that women across the country can experience the brand and find premium fitness and athletic gear that fits her personality, versatility and individual style.”

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