Companies / Foot Locker invests $3 million in episodic ecommerce retailer NTWRK
Foot Locker’s direct-to-customer business—which primarily is e-commerce—drove $698 million in sales for the first three quarters of 2016. That’s roughly a 7% increase from $650 million in the same period of the prior year. According to Foot Locker, the increase was a result primarily of continued growth of e-commerce sales associated with FootLocker.com and its other primary websites, both domestically and internationally. This was partially offset by declines in its Eastbay, Runners Point, and Sidestep e-commerce businesses. The retailer said profits for the direct-to-consumer segment dropped in 2016 due to higher marketing costs and promotional activity in its domestic e-commerce business.
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