Foot Locker, Inc. sales for the first quarter were $1.364 billion, versus $1.377 billion in the comparable period last year, a decrease of 0.9%. Comparable store sales increased 0.5%. Excluding the effect of foreign currency fluctuations, total sales for the 13-week period increased 0.2%.
“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.”
