Dive Brief:
- Foot Locker reported a 13% jump in sales for the second quarter to $1.64 billion on Friday. Same store sales increased 7%, above the expected 5.4% by analysts.
- Profit rose 39% to $92 million, up from $66 million a year earlier.
- Sales from Foot Locker's running and basketball categories where the strongest in the most recent quarter, increasing in both units sold and average selling prices.
Dive Insight:
Athletic shoes sales are benefiting from an overall trend in the retail sector, where shoppers continue to purchase and wear workout wares for esthetic rather than athletic reasons.
As yoga pants and stylish basketball shoes continue to be worn outside of the gym, analysts estimate sales in the category to rise nearly 50% over the next six years. Expect to see more (increasingly stylish) activewear to be made available in big box stores like Target -- Kmart recently announced a partnership with Jillian Michaels for a new line of workout gear and accessories.