Foot Locker 2011 Annual Report Download - page 53

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REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Directors and Shareholders of
Foot Locker, Inc.:
We have audited the accompanying consolidated balance sheets of Foot Locker, Inc. and subsidiaries as of
January 28, 2012 and January 29, 2011, and the related consolidated statements of operations,
comprehensive income, shareholders’ equity, and cash flows for each of the years in the three-year period
ended January 28, 2012. These consolidated financial statements are the responsibility of the Company’s
management. Our responsibility is to express an opinion on these consolidated financial statements based
on our audits.
We conducted our audits in accordance with the standards of the Public Company Accounting Oversight
Board (United States). Those standards require that we plan and perform the audit to obtain reasonable
assurance about whether the financial statements are free of material misstatement. An audit includes
examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An
audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audits
provide a reasonable basis for our opinion.
In our opinion, the consolidated financial statements referred to above present fairly, in all material
respects, the financial position of Foot Locker, Inc. and subsidiaries as of January 28, 2012 and
January 29, 2011, and the results of their operations and their cash flows for each of the years in the
three-year period ended January 28, 2012, in conformity with U.S. generally accepted accounting
principles.
We also have audited, in accordance with the standards of the Public Company Accounting Oversight
Board (United States), Foot Locker, Inc.’s internal control over financial reporting as of January 28, 2012,
based on criteria established in Internal Control — Integrated Framework issued by the Committee of
Sponsoring Organizations of the Treadway Commission, and our report dated March 26, 2012 expressed
an unqualified opinion on the effectiveness of the Company’s internal control over financial reporting.
New York, New York
March 26, 2012
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