Little Foot pre-announced sales for the quarter ended Aug. 26 were $469.4 million, down 3% from last year, with the primary factor a 4.6% comp store sales decline. Based on gross margin pressure from increased markdowns and promotional activity, Little Foot expects to report EPS of $0.08-12 ($4.0 mm) for the quarter. It also warned that, based on current trends, it doesn’t see a recovery for the rest of this year, reducing guidance for the year to adjusted EPS of $0.50-60 ($22.1 mm), or roughly half of earlier guidance of $1.12-1.20, or $1.06 per share, adjusting for the extra week ... Log in to view full article.