Third-quarter profits tumbled by 67% to $75,212,000 from $227,813,000, with the addition of nearly two months of Foot Locker sales sending total revenues 36% higher to $4,167,773,000 against $3,057,181,000, as DKS revealed plans for a broad-based restructuring to “clean out the garage” at Big Foot. Blended comps were 1.7% higher. The bottom line included $138,549,000 in merger and integration costs.

Enterprise gross margin contracted by 260 basis points to 33.1%, and SG&A, excluding merger costs, was up 41%, increasing 100 b.p. as a percent of sales. Inventory grew 51% from a year ... Log in to view full article.