SeatGeek Closes On $35M In VC Financing Golf Sales Cut Into Dick's Profits ClubCorp Acquires Sequoia Golf For $265M Disney Posts Record Q3 Despite ESPN CDI Earns Record Quarterly Revenue Adidas Cuts FY '14 Outlook, FY '15 Targets A-B Credits World Cup For Helping Q2 Profits SMI Sees Slight Revenue Drop In Q2 Under Armour's Sales Up 34% In FY Q2 Carmelo Gets Into Venture-Capital Industry
Upcoming Conferences and Events
KINNEY TRANSPLANT: VENATOR TO CLOSE TWO SHOE-STORE CHAINS
Published September 17, 1998
Venator Group, "in another step to bolster flagging results and narrow its focus, announced plans to close two weak shoe-store chains" that have accounted for 7% of sales, according to Yumiko Ono of the WALL STREET JOURNAL. Ono reports that by year end, "Venator said it will close 467 Kinney Shoe and 103 Footquarters stores," which sell moderately-priced shoes and sneakers. Around 60 of the stores will become Lady Foot Locker, Kids Foot Locker and Colorado clothing stores. Venator said that about 1,400 full-time and 3,200 part-time jobs "will be affected" (WALL STREET JOURNAL, 9/17). In N.Y., Richard Wilner reports that an "as-yet unnamed outlet chain will be formed" to help Foot Locker and Champs "keep inventory fresh" (N.Y. POST, 9/17). CNN's Lou Dobbs reported that Venator will take a "$173 million charge" on the closings. Venator stock closed at 10 7/16, off 60% from its 52-week high ("Moneyline," 9/16).