The overall performances of three sporting goods retailers tended to go the way of their clothing sales in the third quarter. Sector giant Foot Locker missed expectations and reported double-digit declines in U.S. apparel sales, but Dick’s and Hibbett each posted sturdy soft goods revenues and beat Wall Street expectations.
In the three months ended Oct. 31, New York-based Foot Locker Inc. recorded a loss of $6 million, or 4 cents a diluted share, compared with profits of $24 million, or 16 cents a share in 2008. The most-recent quarter included impairment charges of $22 million. Excluding such items, Foot Locker’s net totaled $16 million, or 10 cents a share. Analysts polled by Yahoo Finance had expected adjusted earnings per share of 13 cents.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"