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W1031 JUL 10,1997 4:54 PACIFIC 07:54 EASTERN
( BW)(FOOTSTAR)(FTS) Footstar Reports Strong June Sales Results
Business Editors
MAHWAH, N.J.--(BUSINESS WIRE)--July 10, 1997--Footstar, Inc.
(NYSE: FTS) today reported that total sales from continuing
operations for the five-week period ended July 5, 1997 increased
10.7% to $179.1 million from $161.8 million for the comparable
prior-year period. Footaction's total sales rose 22.6%, while
Meldisco's total sales increased 6.2%.
Footstar's same store sales for June increased 5.3%. Footaction
reported a same store sales increase of 2.5%, while Meldisco's same
store sales increased 6.2%.
For the twenty-six week period ended July 5, 1997, total sales
increased 6.1% for Footstar. Footaction's total sales rose 17.4%,
while Meldisco achieved a 1.4% gain.
Footstar's same store sales for the twenty-six week period rose
1.4%, with Footaction and Meldisco posting gains of 0.7% and 1.7%,
respectively.
Mickey Robinson, Chairman and Chief Executive Officer, commented,
"We are pleased with our June performance, which included
better-than-expected results in both our Meldisco and Footaction
divisions. Meldisco's sales were favorably affected by the onset of
warmer weather and increased promotional activity. At Footaction,
apparel sales also benefitted from warmer weather and promotions,
while footwear sales were positively impacted by successful new
product launches."
As of July 5, 1997, Footstar operated 513 Footaction stores,
which sell branded athletic footwear and apparel, and 2,541 Meldisco
leased footwear departments.
-0-
*T
Footstar, Inc.
Same Store Sales
Change from Prior Year
Five Weeks Twenty-six Weeks
Ended Ended
July 5, 1997 July 5, 1997
Footaction 2.5% 0.7%
Meldisco 6.2% 1.7%
Footstar, Inc. 5.3% 1.4%
*T
--30--ajg/ny*
CONTACT: Footstar, Inc.
Investor Contact: Carlos Alberini
Sr. Vice President & CFO
201/760-4008
-or-
Kekst and Company
Media Contact: Wendi Kopsick
Jim Fingeroth
212/521-4800
KEYWORD: NEW JERSEY
INDUSTRY KEYWORD: APPAREL/TEXTILES RETAIL
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