Foot Locker Q1 sales decreased 43.4 percent
Topics: FOOT LOCKER
Gross margin rate decreased to 23.0 percent from 33.2 percent a year ago.
First quarter sales decreased 43.4 percent, to $1.18 billion from prior-year period. Excluding the effect of foreign exchange rate fluctuations, total sales decreased 42.9 percent.
The company's Board has decided to temporarily suspend the cash dividend beginning with the second quarter payment. The Board will continue to evaluate the dividend policy on a quarterly basis. ■