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News and Information Article
* First Quarter Comparable-Store Sales Increased 0.5 Percent
* First Quarter Earnings Per Share Expected to be $0.36 - $0.37
NEW YORK, May 4 /-FirstCall/ -- Foot Locker, Inc. (NYSE: FL),
the New York-based specialty athletic retailer, today reported sales for
the 13-week period ended April 29, 2006 of $1,364 million, versus $1,377
million in the comparable period last year, a decrease of 0.9 percent. For
this same 13-week period, comparable store sales increased 0.5 percent.
Excluding the effect of foreign currency fluctuations, total sales for the
13-week period increased 0.2 percent.
"First quarter comparable-store sales results were solid in our North
American businesses, but continued to be weak in our European stores which
partially reflected our less promotional posture than the first quarter of
last year," stated Matthew D. Serra, Foot Locker, Inc.s Chairman and Chief
Executive Officer. "In total, our sales fell short of our initial
expectations and were also negatively impacted by European foreign currency
exchange rates which were unfavorable versus the first quarter of last
year. As a result, we currently expect that our first quarter 2006 earnings
will be in the range of $0.36 to $0.37 per share."
Foot Locker, Inc. plans to report its first quarter 2006 financial
results on Wednesday, May 17, 2006. A conference call is scheduled on
Thursday, May 18, 2006 for 10:00 a.m. EDT to discuss these results and
provide guidance with regard to its earnings outlook for 2006. This
conference call may be accessed live from the Investor Relations section of
the Foot Locker, Inc. website at http://www.footlocker-inc.com. Please
log-on to the website at least 15 minutes prior to the call in order to
download any necessary software. The webcast conference call will be
available for replay until 5:00 p.m. Monday, May 22, 2006. News releases
are also available on the Internet at http://www.prnewswire.com or on Foot
Locker, Inc.s website at http://www.footlocker-inc.com.
Foot Locker, Inc. is a specialty athletic retailer that operates
approximately 4,000 stores in 20 countries in North America, Europe and
Australia. Through its Foot Locker, Footaction, Lady Foot Locker, Kids Foot
Locker and Champs Sports retail stores, as well as its direct-to-customer
channel Footlocker.com/Eastbay, the Company is the leading provider of
athletic footwear and apparel.
Disclosure Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. All statements, other than
statements of historical facts, which address activities, events or
developments that the Company expects or anticipates will or may occur in
the future, including, but not limited to, such things as future capital
expenditures, expansion, strategic plans, dividend payments, stock
repurchases, growth of the Companys business and operations, including
future cash flows, revenues and earnings, and other such matters are
forward-looking statements. These forward-looking statements are based on
many assumptions and factors detailed in the Companys filings with the
Securities and Exchange Commission, including the effects of currency
fluctuations, customer demand, fashion trends, competitive market forces,
uncertainties related to the effect of competitive products and pricing,
customer acceptance of the Companys merchandise mix and retail locations,
the Companys reliance on a few key vendors for a majority of its
merchandise purchases (including a significant portion from one key
vendor), unseasonable weather, economic conditions worldwide, any changes
in business, political and economic conditions due to the threat of future
terrorist activities in the United States or in other parts of the world
and related U.S. military action overseas, the ability of the Company to
execute its business plans effectively with regard to each of its business
units, risks associated with foreign global sourcing, including political
instability, changes in import regulations, and disruptions to
transportation services and distribution. Any changes in such assumptions
or factors could produce significantly different results. The Company
undertakes no obligation to update forward-looking statements, whether as a
result of new information, future events, or otherwise.
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