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Article: West Nyack, N.Y.-Based Shoe Retailer Sees Profit Decline in $5.3 Million.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- July 19, 2002
CopyrightCOPYRIGHT 2002 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Record, Hackensack, N.J. Knight Ridder/Tribune Business News
Jul. 19--Footstar Inc. reported a decline in second-quarter profit Thursday, blaming the drop on charges from terminating a pair of money-losing licensing agreements.
The shoe retailer said earnings in the quarter were $5.3 million, or 26 cents per share, compared with $16.1 million, or 78 cents per share, in the same period last year.
Without the $10.3 million in charges for restructuring and other items, the company's profit would have been $15.6 million, or 76 cents per share, for the quarter.
Analysts surveyed by Thomson First Call had an average estimate of 73 ...