**Foot Locker, Inc. (NYSE:FL)** reported a 10.3% decline in its first-half sales for 2023, marking the first sales decline in over two years. .
**Key Financial Highlights:**.
* **Revenue**: $3.67 billion, down 10.3% from $4.1 billion in the same period last year..
* **Net income**: $196 million, down 17.2% from $237 million in the prior year..
* **Diluted earnings per share (EPS)**: $1.17, down 14.6% from $1.37 in H1 2022..
**Sales Performance by Region and Category:**.
* **North America**: Sales decreased by 10.6% to $2.9 billion..
* **International**: Sales fell by 8.6% to $766 million..
* **Footwear**: Revenue declined by 9.4% to $2.6 billion..
* **Apparel**: Sales decreased by 13.6% to $875 million..
* **Accessories**: Revenue dropped by 10.2% to $193 million..
**Comparable Sales:**.
* Comparable sales, a key metric for retailers, saw a 7.9% decrease globally..
**Factors Contributing to the Decline:**.
* **Inflation**: Rising inflation and economic uncertainty impacted consumer spending..
* **Shifting Consumer Preferences**: Changes in consumer preferences and fashion trends contributed to lower demand..
* **Increased Competition**: Foot Locker faced increased competition from other retailers and online marketplaces..
**Management Commentary:**.
Richard Johnson, Foot Locker’s Chairman and Chief Executive Officer, commented on the results:.
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