(CercleFinance.com) – The sporting goods chain Foot Locker indicates that it is revising its objectives for the current financial year downwards, now anticipating a non-GAAP EPS between two and 2.25 dollars, as well as a drop of 6, 5 to 8% of its revenues (-7.5 to -9% like-for-like).
In its first fiscal quarter, its non-GAAP EPS fell to $0.70 from $1.60 for the same period last year, on sales that fell 11.4% to $1.93 billion ( -9.1% at comparable stores).
“Our sales have slowed significantly in a difficult macroeconomic environment, which has led us to reduce our forecast as we proceed with more aggressive markdowns to stimulate demand and manage inventory,” explains its CEO Mary Dillon.
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