Foot Locker, Inc. reported sales for the 13-week period ended February 1, 2003 of $1,211 million, versus $1,155 million in the comparable period last year, an increase of 4.9 percent. Comparable store sales for the Company’s 2002 fourth quarter decreased 0.9 percent.
For the 52-week period ended February 1, 2003, sales increased 4.2 percent to $4,506 million, from $4,325 million in the Company’s corresponding period last year. For the same 52-week period, comparable store sales increased 0.1 percent.
Excluding the effect of foreign currency fluctuations, total sales for the 13-week and 52-week reporting periods increased 2.6 percent and 3.0 percent, respectively.
“Fourth quarter sales and profits were enhanced by our ongoing program of opening new stores targeted to under-penetrated retail markets and the closings of other low-productivity units,” stated Matthew D. Serra, Foot Locker, Inc.’s President and Chief Executive Officer. “Our results were also positively impacted by the continued strength of our European and direct-to-customer businesses. As such, we currently expect our 2002 full year earnings to be within our previously stated range of $1.10-to-$1.12 per share.”
