Foot Locker Runs Down Imports, Tariffs May Stamp On Shoes — Panjiva


Foot Locker Runs Down Imports, Tariffs May Stamp On Shoes

China 2221 Cons. Discr. - Apparel 294 Earnings 400 U.S. 3990

Shoe retailer Foot Locker has announced the closure of 110 stores after delivering disappointing revenues and profits for the fourth quarter. Its struggles are not new, with U.S. seaborne imports down 32% on a year earlier in the three months to January 31 and 18% annually over the past three years for the quarter. A further slump appears to be ongoing, with imports down 46% in February. Most of its imports though are clothing from China and Pakistan, so shoe purchases likely come directly from the manufacturer / distributor in the U.S. In that regard it has lagged the overall market, wh...

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