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Thursday, November 19, 2009
Foot Locker Swings To a Loss On Weak U.S. Sales
By Jim Jelter
MarketWatch Pulse
SAN FRANCISCO -- Athletic footwear and apparel retailer Foot Locker Inc. , citing continued weak sales in the U.S., reported late Thursday a net loss of $6 million, or 4 cents a share. A year ago it posted net income of $24 million, or 16 cents a share. Revenue for the three months ended Oct. 31 fell 7.3% to $1.21 billion from $1.31 billion a year earlier. Same-store sales fell 8.2% in the latest quarter. Analysts surveyed by FactSet Research had expected the New York-based company to earn 13 cents a share on $1.2 billion in revenue. Foot Locker shares fell 44 cents, or 2%, to close at $11.30 ahead of the report. The stock is up nearly 117% over the past 12 months.
Copyright © 2009 MarketWatch, Inc.
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