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Foot Locker’s Q1 Sales Fell More Than 40%, Despite Record-Setting E-Comm

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The coronavirus pandemic nearly halved first-quarter sales at Foot Locker amid store crushing store closures, though e-commerce set a company record. In a Nutshell: Foot Locker solidified its financial standing in Q1, borrowing $330 million under its $400 million credit facility, cutting full-year capital expenditures by 50 percent to $138 million, minimizing non-essential spending and reducing…

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