Shoe Station Group (SHOE) Bets On Localized Stores To Reverse A Slide
Shoe Station Group (SHOE) reported a 7.2% decline in Q2 net sales to $284.3M, but August comparable sales improved to a 2.7% decline. The company is focusing on localized store assortments, which led to a low single-digit increase in adult athletic sales in August. E-commerce sales grew 18.8%, and the company ended the quarter debt-free with $131.6M in cash. However, gross profit margin fell 690 basis points to 31.9%, and net income dropped to $6.3M. Management expects continued margin pressure





