USA: Footstar Slips 9.6 Per Cent In May
However, comparable store sales for the athletic segment increased 2.1 per cent.
Total sales in May were $178.4 million, the company said, a decrease of 11.7 per cent from the $202.1 million posted in the same period last year. Sales for the Meldisco division declined 17.7 per cent to $107.9 million from $131.1 million, while the company's athletic segment decreased 0.6 per cent to $70.5 million from $71.0 million.
Mickey Robinson, chairman and chief executive officer, commented: "While we are optimistic that we can turn in a solid quarter if the weather turns more seasonable in June, we currently expect diluted earnings for the second quarter to be approximately $0.68 to $0.78 per share, compared with $0.78 per share last year.
"Earnings for the first six months of the year are expected to increase by more than 32 per cent to $0.77 to $0.87 per share, compared with $0.58 per share in the first six months of 2001," Mr Robinson added.
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