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Article Date: April 2017
Word Count: 421

Foot Locker Lowers Q1 Guidance on Weak Feb. Comps

It took the federal government to slow down Big Foot’s sneaker selling machine. Foot Locker lowered guidance for the first quarter to $1.36-1.39 ($180.4 mm), at or slightly below last year’s earnings, for the quarter ending Apr. 29 as the late delivery of tax refund checks arrived after the NBA All-Star weekend that introduces many key new releases. Comps for Feb., the biggest month of the quarter, were down low-double digits as a result. However, Big Foot noted that March comps rebounded strongly with a high-single-digit comp and a strong Easter selling season in Apr. is expected to produce a ... Log in to view full article.


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