Podany readies ShopKo for retail slowdown.(ShopKo Stores Inc.'s President/CEO Bill Podany)(Brief Article)(Statistical Data Included)
Home Textiles Today, November, 2000 by Lillo, Andrea
GREEN BAY, WI -- With store growth, renovation and modernization still part of ShopKo's future, president, ceo and chairman Bill Podany keeps a cautious foot on the pedal as he rides out this year's retail slowdown and anticipates more of the same next year.
Like several other retailers, ShopKo has had to adjust downward its expected earnings for the year. It recently announced its expectations of third-quarter revenue shortfall, combined with margin compression, to result in third-quarter earnings of approximately 2 cents to 7 cents per share before special charges. Fourth-quarter earnings are expected to be approximately $1.44 to $1.64 per share before special charges. Annual earnings, calculated on the same basis, are expected to be approximately $1.80...
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