With a unit growth and remodel strategy two monthsbehind schedule and the division emerging from a tough Q2, Woolworthsays it's scaling back Q3 sales assumptions and eyeing expensecutbacks to make up the difference. Big Foot's plan to open 250additional athletic formats this year and remodel 300 others,of which 135 are complete, has been forced into acceleration betweennow and Nov.

The retailer is addressing inventory purchasedfor the still-unopened stores by canceling some orders and redirectingother product to existing units. In themeantime, Woolworth says 20 of 100 variety stores targeted forconversion to athletic formats should be completed by Christmas.The remainder will be done ... Log in to view full article.