Foot Locker Turns the Corner in North America
Just two weeks before it is set to be acquired by Dick’s SG, Big Foot continued to struggle in its final quarter as a public company, tallying a Q2 loss of $38 million against $12 million, as revenues slipped 2% to $1,857 million from $1,900 million, and were down 4% constant currency. Comps decreased by 2.0% overall, although Champs and Foot Locker stores in North America reported positive comps. Contributing to the red ink was about $15 million of expenses related to the pending acquisition by DKS.
Gross margin narrowed by 40 ... Log in to view full article.