Foot Locker Reviews Alternatives

NEW YORK CITY-Foot Locker Chairman and CEO Matthew Sera stopped short of saying that his company is pursuing a sale as has been previously rumored, during the company’s second-quarter conference call. But he did say that the athletic footwear and apparel chain has hired investment-banking firm Evercore Partners to assist in exploring strategic alternatives.

Among the goals of this partnership are stabilizing same-stores sales, enhancing the North American portfolio, pursuing global opportunities and looking at acquisitions, Sera says. The new comes as Foot Locker’s same-store sales and earnings dropped for its most recent quarter, which ended July 29.

Same-stores sales decreased 1.3% year over year, and total sales, which came in at just over $1.3 billion, were essentially flat. Foot Locker’s net income was $14 million, down from $44 million during last year’s second quarter, due to a write down on the retailer’s European business.