USA: Shoe Pavilion Suffers Profit Slip
Off-price footwear chain Shoe Pavilion Inc on Thursday posted a steep fall in second quarter net profit to $528,000 from $946,000 in the year-ago period amid a 3.7 per cent slip net sales to $22.7 million. The California-based operator of 82 outlets said net sales at its own stores and Gordmans licensed shoe departments were $20.5m and $2.2m, respectively, compared to $19.6m and $4m, respectively, in 2001.
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