Retail Industry
Industry: Email Alert RSS FeedFootstar - Retailer News - earnings - Brief Article - Statistical Data Included
DSN Retailing Today, March 25, 2002
Footstar, which operates shoe departments in Kmart stores, won't be badly hurt by Kmart's proposed store closings. Footwear departments in the 284 closing stores produced $116.8 million of Footstar's total sales of $2.4 billion in fiscal year 2001. Operating profits from the licensed departments were $9.3 million for 2001.
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On a pro-forma basis, after excluding Kmart's 49% equity interest, Footstar's operating profit from operations in the closing stores was about $4.7 million.
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COPYRIGHT 2002 Gale Group
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