Foot Locker, Inc. reported sales for the 13-week period ended May 1, 2004 of $1,186 million, versus $1,128 million in the comparable period last year, an increase of 5.1%. Comparable store sales for the Company's 2004 first quarter increased 0.3%. Excluding the effect of foreign currency fluctuations, total sales for the 13-week period increased 2.0 percent.
“Our first quarter comparable-store sales results reflected a low-single digit increase in our U.S. business, with the most significant growth generated by our Foot Locker store division,” stated Matthew D. Serra, Foot Locker, Inc.'s Chairman and Chief Executive Officer. “Sales in our international business declined low-single digits, partially as a result of weakening economic conditions and reduced tourism in certain European countries due to uncertain geo-political concerns. Our global expansion strategy, however, remains on track with 60 new stores planned in international markets during 2004. In line with our previously stated range, we currently expect our 2004 first quarter earnings per share to increase 10- to-20 percent.”
