USA: Charges Eat Into Footlocker Profits
Leading athletic shoe retailer Foot Locker Inc on Thursday revealed a 46 per cent year-on-year plunge in first quarter net profit due to losses from discontinued operations. The company said in a news release that net income fell to $20 million, or 14 cents a share, from $37m, or 27 cents a share, in 2001. Its latest figures include a $36m charge for items related to disposed operations.