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Article Date: May 2020
Word Count: 603

Foot Locker Posts Loss on Steep Sales Decline in Q1

Big Foot reported a loss of $98 million against income of $172 million for the first quarter ended May 2 as sales declined 43% with a like comp store decline. The results included a $1 million pension charge and a tax charge of $27 million related to a revaluation of intellectual property rights. The results also do not include a possible $50 million impairment charge for 70 stores that is currently under consideration. While not providing the usual detail by banner and geography, Big Foot’s stores had a 53.4% comp store decline, partially offset by a DTC increase of 14.3%, ... Log in to view full article.


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