FOOTSTAR LOWERS Q2 GUIDANCE AFTER HURTS MAY COMPS.
The Footaction, Just For Feet and Meldiscoparent is estimating Q2 EPS in the range of $0.68-0.78 ($13.7-15.7 mm), versusa year ago’s $0.78 and a consensus Street estimate of $0.79. In May, cool, wetweather negatively impacted sellthroughs of sandals, athletics and casuals inthe Meldisco unit and contributed to a 16.1% same store sales decline in thesegment.
In the athletic division, May comparable store salesrose 2.1%. At Footaction, basketball, particularly classicsand retro product from Nike and Reebok, ... Log in to view full article.