USA: Restructuring Charges Hit Footstar Profits
Sports and athletic footwear retailer Footstar Inc on Wednesday posted a first quarter net loss of $6.1 million after being hit by restructuring and other charges of $19.6m. Footstar said the charges included inventory write-downs and severance costs linked to Kmart's closure of 283 stores, as well as costs to shut down the its Texas Footaction offices, including building exit costs and severance costs.
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