Breaking News
Mar 20, 2023
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Foot Locker Inc said sales in the fourth quarter ending on January 28 decreased 0.3% to $2.33 billion and net income plunged to $19 million from $103 million and diluted earnings per share dropped to 19 cents from $1.02 a year ago.
Comparable sales in the quarter increased 4.2%.
During the fourth quarter, the company paid a quarterly dividend of 40 cents per share and repurchased 4.1 million shares for a total of $129 million and paid a total of $150 million in dividends.
The Board of Directors declared a quarterly cash dividend of 40 cents per share payable on April 28 to shareholders of record on April 14.
In the full-year 2022, total sales fell to $8.6 billion from $9.0 billion and net income dropped to $342 million from $893 million and diluted earnings per share fell to $3.58 from $8.61.
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After weeks of struggle to shore up its rapidly deteriorating capital base, Credit Suisse agreed to be acquired by UBS in a forced merger engineered by Switzerland.
In a deal negotiated by the Swiss regulators and the Swiss National Bank, UBS Group AG agreed to pay 50 Swiss cents per share or 3 billion Swiss francs ($3.25 billion), significantly less than the expected price for shareholders.
The Swiss National Bank agreed to provide up to 100 billion Swiss francs in liquidity and the Swiss government will offer a loss guarantee of up to 9 billion Swiss francs. However, UBS will be responsible for the first 5 billion Swiss francs of potential losses linked to the impairment of acquired assets from the bank.
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UBS