USA: Footstar Hires New CEO, Posts Lower Q4 Results
The New York state-based company, which is in the process of restating earnings for fiscal 1997 through 2002, has appointed former Foot Locker chief Dale Hilpert to the CEO role.
The company fired former CEO Mickey Robinson in September.
In addition, Footstar has promoted its current chief financial officer Stephen Wilson to the vice-president chief administrative officer post, with no plans to fill the CFO vacancy.
The retailer has also hired financial services provider Credit Suisse First Boston to advise it on potential strategic alternatives, which could include the sale of the company's athletic division.
For the fourth quarter ending January 3, Footstar posted a same-store sales decrease of six per cent and a 10.2 per cent year-on-year decrease in total sales to $508.3 million.
Companies: Foot Locker Inc
Foot Locker, the New York-based athletic retailer, has seen a fall in full year net income despite a strong end to the year....
Shoe retailer Footstar Inc has had its Chapter 11 reorganisation plan confirmed by the US Bankruptcy Court - and should emerge from bankruptcy on Monday 6 February....
Sports shoe chain Foot Locker has promoted two executives to lead its finance and accounting division, following the resignation of chief financial officer Bruce Hartman, who is moving to another comp...
Sports shoe chain Foot Locker's third-quarter income has been damaged 11 per cent by increased European marketing spending....
The following is a general roundup of apparel and shoe chains' October sales results. The list will be updated as new results become available....
Sports shoe chain Foot Locker has reported a rise in third-quarter sales, but warned on profit because of hurricane-related expenses....
Sports shoe retailer Foot Locker Inc has suffered a 46 per cent slump in second-quarter profit as good sales on the US market were offset by a lack of demand in Europe....
Specialty athletic retailer Foot Locker Inc has reported a 3.0 per cent rise in second-quarter sales, as a "very disappointing" performance in Europe was offset by improving sales and profit results i...
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