RCG Corporation, the company behind sports footwear franchise The Athlete’s Foot,
has pledged to report at least flat profit in the first half despite continued declines in
Speaking at RCG’s annual general meeting in Sydney yesterday, chairman Ivan
Hammerschlag described trading conditions as the worst he had seen in 30 years.
Sales at The Athlete’s Foot were down by 1.2 per cent for the first four months of the financial
year, or 3.3 per cent when the benefit of new store openings was excluded. However, the
company was forecasting first-half profit to remain at least steady against the previous
comparable period, and earnings per share for the full-year to be up on last year.