Foot Locker 2004 Annual Report Download

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FOOT LOCKER,INC.
2004 ANNUAL REPORT
ACCELERATING GLOBAL GROWTH
$4.4 billion
$4.4 billion
sales
eps
$4.5 billion
$4.5 billion
$4.8 billion
$4.8 billion
$4.4 billion
$4.4 billion
$5.4 billion
$5.4 billion
$1.10
$1.10
$1.40
$1.40
$0.77
$0.77
$0.77
$0.77
$1.64
$1.64
2002
2002
2001
2001
2000
2000
2003
2003
2004
2004

Table of contents

  • Page 1
    FOOT LOCKER, INC. AC C E LE R AT I N G G LO B A L G RO W T H 2004 A N N UA L R E PO RT $1.64 $1.40 2004 $5.4 billion $1.10 2003 2002 $0.77 eps 2000 2000 sales billion $4.4 billion $0.77 2001 billion $4.4 billion billion $4.8 billion $4.5 billion billion

  • Page 2
    ... in New York City, it operates approximately 4,000 athletic retail stores in 18 countries in North America, Europe and Australia under the brand names Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker and Champs Sports. Additionally, the Company's Footlocker.com/Eastbay business operates...

  • Page 3
    ... cash equivalents and short-term investment position, net of debt $ 4,356 $ 182 $ 107 $ 0.77 $ (204) 2001 $ 4,379 $ 197 $ 111 $ 0.77 $ (184) 2002 $ 4,509 $ 269 $ 162 $ 1.10 $ - 2003 $ 4,779 $ 342 $ 209 $ 1.40 $ 112 2004 $ 5,355 $ 389 $ 255 $ 1.64 $ 131 Athletic Stores Sales Per Average Gross Square...

  • Page 4
    ...: our sales broke through the $5 billion mark and, by year's end, we were operating nearly 4,000 stores worldwide. Moreover, Foot Locker, Inc. significantly increased its net income per share and increased shareholder value by using its strong cash flow to reinvest in the business and pay increased...

  • Page 5
    Gross Square Footage Store Summary January 31, 2004 Foot Locker Footaction Lady Foot Locker Kids Foot Locker Foot Locker International Champs Sports Total 1,448 - 584 357 640 581 3,610 Acquired - 349 - - 11 - 360 Opened 20 4 2 1 64 5 96 January 29, Closed 2005 40 4 19 12 8 16 99 1,428 349 567 346 ...

  • Page 6
    ...of the Board, President and Chief Executive Officer 1988 1989 1990 • 1,154 Foot Locker stores; 461 Lady Foot Locker stores; 10 Kids Foot Locker stores. Robby's Sports is acquired and folded into Champs Sports. • First Foot Locker store opens in Australia. • Foot Locker Europe Division...

  • Page 7
    ...Men's, Women's and Children's Athletic Footwear, Apparel and Equipment 166 Canadian Stores 3,122 U.S. Stores 68 Puerto Rico Stores 8 Virgin Islands Stores 485 European Stores 22 Hawaii Stores 4 Guam Stores Global diversification is a vital component of the Company's strategic positioning. This...

  • Page 8
    ... this region, which is headquartered in Australia. Most recently, the Company has successfully opened 10 new stores in New Zealand and is developing plans to test other markets in the near future. 1992 1996 • 442 Champs Sports stores. • • Eastbay is acquired. Foot Locker operates in 12...

  • Page 9
    7

  • Page 10
    ..., apparel and accessories than the Company's other business formats. Champs Sports also differentiates its strategy from the Company's other businesses by targeting a more suburban customer who is 12 to 25 years old, and is both performance and fashion-conscious. During 2004, comparable-store sales...

  • Page 11
    ... and, over time, produce a division profit margin in line with its other businesses. 2000 2001 • • • Athletic sales surpass $4 billion. Corporate offices are moved to 34th Street. 21,000-sq.-ft. store on London's Oxford Street opens. • • • Company changes name to Foot Locker, Inc...

  • Page 12
    ... business reported a division profit margin rate in 2004 that was in line with the Company average and expectations. The Company remains encouraged that Kids Foot Locker will continue to produce strong and improving results. 2002 2003 • • 10,000-sq.-ft. store on New York's Times Square opens...

  • Page 13
    .... In January 1997, Foot Locker, Inc. acquired Eastbay as a means to expand its customer base by selling athletic footwear, apparel and equipment direct to customers through catalogs. Subsequent to the acquisition, the Company developed a strategy to significantly expand this business by also selling...

  • Page 14
    ... footwear in time for the start of the school year. The American Cancer Society is another important charitable organization that the Company supports. Across the nation, over 700 Foot Locker employees participated in the "Making Strides Against Breast Cancer" walk in 2004, raising money for cancer...

  • Page 15
    ...New York (State or other jurisdiction of incorporation or organization) 13-3513936 (I.R.S. Employer Identification No.) 112 West 34th Street, New York, New York (Address of principal executive offices) 10120 (Zip Code) Registrant's telephone number, including area code: (212) 720-3700 Securities...

  • Page 16
    ... Financial Statement Schedules ...57 Directors and Executive Officers of the Company...Executive Compensation ...Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters ...Certain Relationships and Related Transactions ...Principal Accountant Fees and Services...

  • Page 17
    ... the Code of Business Conduct and Waivers of the Code for directors and executive officers on the corporate governance section of the Company's corporate website. The Certification of the Chief Executive Officer required by Section 303A.12(a) of The New York Stock Exchange Listing Standards relating...

  • Page 18
    ... Chief Executive Officer, Foot Locker, Inc. - U.S.A. Senior Vice President, General Counsel and Secretary Senior Vice President - Real Estate Senior Vice President - Chief Information Officer Senior Vice President - Strategic Planning Senior Vice President - Human Resources Vice President - Investor...

  • Page 19
    ... Foot Locker, Lady Foot Locker, Kids Foot Locker, Champs Sports and Footaction (beginning May 2004). The Direct-to-Customers segment reflects Footlocker.com, Inc., which sells, through its affiliates, including Eastbay, Inc., to customers through catalogs and Internet websites. The Foot Locker brand...

  • Page 20
    ... geared to both parents and children. Its 346 stores are located in the United States and Puerto Rico and have an average of 1,400 selling square feet. Store Profile At January 31, 2004 Acquired Opened Closed At January 29, 2005 Foot Locker ...Champs Sports ...Footaction ...Lady Foot Locker ...Kids...

  • Page 21
    ...website and the Foot Locker brands are featured in the Amazon.com specialty stores for apparel and accessories and sporting goods. The Company also has an arrangement with the NBA and Amazon.com whereby Footlocker.com provides the fulfillment services for NBA licensed products sold over the Internet...

  • Page 22
    ...of corporate properties of $1 million during 2002. (2) Segment Information Athletic Stores 2004 2003 (in millions) 2002 Sales ...Division profit Stores ...Restructuring income ...Total division profit ...Sales as a percentage of consolidated total ...Number of stores at year end ...Selling square...

  • Page 23
    ...during 2004. Lady Foot Locker benefited from its modified merchandise assortment. For the year ended January 29, 2005, the Footaction format negatively affected division profit by 80 basis points. This was primarily the result of a lower gross margin rate as compared with the Athletic Stores segment...

  • Page 24
    ...the fourth quarter of 2004, a new agreement was reached with ESPN whereby the Company manages the ESPN Shop - an ESPN-branded direct mail catalog and e-commerce destination where fans can purchase athletic footwear, apparel and equipment. The Direct-to-Customers business generated division profit of...

  • Page 25
    ... costs of $16 million in Europe, primarily as a result of new store openings and $12 million related to compensation costs for incentive bonuses due to the Company's performance. Additionally, pension expense increased by $8 million due to the decline in plan asset values experienced in prior years...

  • Page 26
    ...the prior year. The reduction was principally related to a lower rate of tax on the Company's foreign operations and the settlement of tax examinations. During the second quarter of 2004 the Commonwealth of Puerto Rico concluded an examination of the Company's branch income tax returns, including an...

  • Page 27
    ... and pricing, the Company's reliance on a few key vendors for a significant portion of its merchandise purchases, risks associated with foreign global sourcing or economic conditions worldwide could affect the ability of the Company to continue to fund its needs from business operations. Cash Flow...

  • Page 28
    ... as compared with net cash used of $13 million in 2003. The Company elected to finance a portion of the purchase price of the Footaction stores, and on May 19, 2004 obtained a 5-year, $175 million term loan from the bank group participating in its existing revolving credit facility. Concurrent with...

  • Page 29
    ... also recorded an increase of $14 million to the minimum liability for the Company's pension plans during 2004. This increase was primarily a result of the 40 basis point decrease in the discount rate used to calculate present value of the obligations as of January 29, 2005, offset, in part, by an...

  • Page 30
    ... "Item 8. Consolidated Financial Statements and Supplementary Data." Total Amounts Committed Amount of Commitment Expiration by Period Less than 1 Year 2-3 Years (in millions) 4-5 Years After 5 Years Other Commercial Commitments Line of credit ...Stand-by letters of credit ...Purchase commitments...

  • Page 31
    ...of cost purchases. These volume-related rebates are recorded in cost of sales when the product is sold and they contributed 20 basis points to the 2004 gross margin rate. The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs...

  • Page 32
    ... sold. Pension and Postretirement Liabilities The Company determines its obligations for pension and postretirement liabilities based upon assumptions related to discount rates, expected long-term rates of return on invested plan assets, salary increases, age, mortality and health care cost trends...

  • Page 33
    ... as future capital expenditures, expansion, strategic plans, dividend payments, stock repurchases, growth of the Company's 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...

  • Page 34
    ... as well as other auditing and financial reporting matters. The Company's internal auditors and independent registered public accounting firm have direct access to the Audit Committee. MATTHEW D. SERRA, Chairman of the Board, President and Chief Executive Officer March 28, 2005 BRUCE L. HARTMAN...

  • Page 35
    ... financial reporting. That report appears in the Company's 2004 Annual Report on Form 10-K under the heading, Report of Independent Registered Public Accounting Firm on Internal Control Over Financial Reporting. MATTHEW D. SERRA, Chairman of the Board, President and Chief Executive Officer March...

  • Page 36
    ..., in accordance with the standards of the Public Company Accounting Oversight Board (United States), the effectiveness of Foot Locker, Inc.'s internal control over financial reporting as of January 29, 2005, based on criteria established in Internal Control - Integrated Framework issued by the...

  • Page 37
    ... of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Foot Locker, Inc. and subsidiaries as of January 29, 2005 and January 31, 2004, and the related consolidated statements of operations, comprehensive income, shareholders' equity, and cash flows for...

  • Page 38
    CONSOLIDATED STATEMENTS OF OPERATIONS 2004 2003 (in millions, except per share amounts) 2002 Sales ...Costs and expenses Cost of sales ...... benefit of $37, $4, and $2, respectively ...Cumulative effect of accounting change, net of income tax benefit of $ - ...Net income ...Basic earnings per share...

  • Page 39
    CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME 2004 2003 (in millions) 2002 Net income ...Other comprehensive income, net of tax Foreign currency translation adjustment: Translation adjustment arising during the period ...Cash flow hedges: Change in fair value of derivatives, net of income tax ......

  • Page 40
    CONSOLIDATED BALANCE SHEETS 2004 (in millions) 2003 ASSETS Current assets Cash and cash equivalents...Short-term investments ...Total cash, cash equivalents and short-term investments ...Merchandise inventories...Assets of discontinued operations ...Other current assets ...Property and equipment, ...

  • Page 41
    ... Paid-In Capital Par value $0.01 per share, 500 million shares authorized Issued at beginning of year ...Restricted stock issued under stock option and award plans ...Forfeitures of restricted stock ...Amortization of stock issued under restricted stock option plans ...Conversion of convertible debt...

  • Page 42
    ...-term debt ...Reduction in capital lease obligations ...Dividends paid on common stock ...Issuance of common stock ...Net cash provided by (used in) financing activities of continuing operations ...Net Cash Provided by (Used in) Discontinued Operations ...Effect of Exchange Rate Fluctuations on Cash...

  • Page 43
    ... years. Revenue Recognition Revenue from retail store sales is recognized when the product is delivered to customers. Retail sales include merchandise, net of returns and exclude all taxes. The Company recognizes revenue, including layaway sales, in accordance with SEC Staff Accounting Bulletin...

  • Page 44
    ... and shares purchased under employee stock purchase plans. No compensation expense for employee stock options is reflected in net income, as all stock options granted under those plans had an exercise price not less than the quoted market price at the date of grant. The market value at date of...

  • Page 45
    ... for international inventories. Merchandise inventories of the Direct-to-Customers business are valued at the lower of cost or market using weighted-average cost, which approximates FIFO. Transportation, distribution center and sourcing costs are capitalized in merchandise inventories. Cost of sales...

  • Page 46
    ... measured by discounting expected future cash flows at the Company's weighted-average cost of capital. The Company estimates fair value based on the best information available using estimates, judgments and projections as considered necessary. Goodwill and Intangible Assets The Company accounts for...

  • Page 47
    contracts. Discounted cash flows are used to determine the fair value of long-term investments and notes receivable if quoted market prices on these instruments are unavailable. Income Taxes The Company determines its deferred tax provision under the liability method, whereby deferred tax assets and...

  • Page 48
    ... for direct costs related to the acquisition totaling $4 million. Direct costs include investment banking, legal and accounting fees and other costs. The Company has allocated the purchase price of approximately $226 million based, in part, upon internal estimates of cash flows, recoverability...

  • Page 49
    ... stores under the Foot Locker brand as part of the Athletic Stores segment. The Company has allocated the purchase price of approximately e13 million (approximately $17 million), inclusive of $1 million of direct costs related to the acquisition, based, in part, upon internal estimates of cash flows...

  • Page 50
    ... method of internal reporting. As of January 29, 2005, the Company has two reportable segments, Athletic Stores, which sells athletic footwear and apparel through its various retail stores, and Direct-to-Customers, which includes the Company's catalogs and Internet business. The accounting policies...

  • Page 51
    Operating Results 2004 2003 (in millions) 2002 Athletic Stores (1) ...Direct-to-Customers ...All Other (2) ...Division profit ...Corporate expense (3) ...Operating profit...Non-operating income (4) ...Interest expense, net ...Income from continuing operations before income taxes ...(1) $420 45 465...

  • Page 52
    6 Short-Term Investments These auction rate security investments are accounted for as available-for-sale securities. The fair value of all investments approximate their carrying cost as the investments are generally not held for more than 49 days and they are traded at par value. 2004 2003 (in ...

  • Page 53
    ... Liabilities 2004 (in millions) 2003 Pension and postretirement benefits ...Incentive bonuses ...Other payroll and payroll related costs, excluding taxes ...Taxes other than income taxes ...Property and equipment ...Gift cards and certificates ...Income taxes payable ...Fair value of derivative...

  • Page 54
    ... amount. On May 19, 2004, the Company obtained a 5-year, $175 million amortizing term loan from the bank group participating in its existing revolving credit facility to finance a portion of the purchase price of the Footaction stores. The initial interest rate on the LIBOR-based, floating...

  • Page 55
    ... rent payments based on a percentage of store sales. Rent expense includes real estate taxes, insurance, maintenance, and other costs as required by some of the Company's leases. The present value of operating leases is discounted using various interest rates ranging from 4 percent to 13 percent...

  • Page 56
    ... the expiration date and interest payment terms. Future adjustments, if any, to the carrying value of the Note will be recorded pursuant to SEC Staff Accounting Bulletin Topic 5:Z:5, "Accounting and Disclosure Regarding Discontinued Operations," which requires changes in the carrying value of assets...

  • Page 57
    ... costs of $4 million. In 1998, the Company exited both its International General Merchandise and Specialty Footwear segments. During the first quarter of 2004, the Company recorded income of $1 million, after-tax, related to a refund of Canadian customs duties related to certain of the businesses...

  • Page 58
    ... $ 1 $- - (7) - 1 $ (6) $- - - - 2 $ 2 $- - - - 1 $ 1 $- - - - 3 $ 3 International General Merchandise 2001 Balance Charge/ (Income) 2002 Net Usage* Balance Charge/ (Income) 2003 Net Usage* Balance Charge/ (Income) 2004 Net Usage* Balance (in millions) Woolco ...The Bargain! Shop ...Total...

  • Page 59
    ...corporate headcount reduction and a distribution center shutdown. The dispositions of Randy River Canada, Foot Locker Outlets, Colorado, Going to the Game!, Weekend Edition and the store-closing program were essentially completed in 2000. In 2001, the Company completed the sales of The San Francisco...

  • Page 60
    ... as follows: 2004 (in millions) 2003 Deferred tax assets: Tax loss/credit carryforwards ...Employee benefits ...Reserve for discontinued operations ...Repositioning and restructuring reserves ...Property and equipment ...Allowance for returns and doubtful accounts ...Straight-line rent...Goodwill...

  • Page 61
    ... in filing its income tax returns than for income tax financial reporting. The Company regularly assesses its tax position for such transactions and records reserves for those differences. The Company's U.S. Federal income tax filings have been examined by the Internal Revenue Service (the...

  • Page 62
    ... Canadian Dollar. When using a forward contract as a hedging instrument, the Company excludes the time value from the assessment of effectiveness. The change in a forward contract's time value is reported in earnings. For forward foreign exchange contracts designated as cash flow hedges of inventory...

  • Page 63
    ... or January 31, 2004, respectively. The table below presents the fair value of principal cash flows and related weighted-average interest rates by maturity dates, including the effect of the interest rate swaps outstanding at January 29, 2005, of the Company's long-term debt obligations. 2005 2006...

  • Page 64
    ... competitive. Price, quality and selection of merchandise, reputation, store location, advertising and customer service are important competitive factors in the Company's business. The Company operates in 18 countries and purchases merchandise from hundreds of vendors worldwide. In 2004, the Company...

  • Page 65
    ...$- 2 - (1) (12) $(11) The following weighted-average assumptions were used to determine net benefit cost: Pension Benefits 2004 2003 2002 2004 Postretirement Benefits 2003 2002 Discount rate ...Rate of compensation increase ...Expected long-term rate of return on assets ... 5.90% 3.79% 8.89% 6.50...

  • Page 66
    ... Foot Locker, Inc. common stock as of January 29, 2005 and January 31, 2004. Currently, the target composition of the weighted-average plan assets is 64 percent equity and 36 percent fixed income securities, although the Company may alter the targets from time to time depending on market conditions...

  • Page 67
    ... values of the issuance of the stock-based compensation pursuant to the Company's various stock option and purchase plans were estimated at the grant date using a Black-Scholes option-pricing model. Stock Option Plans 2004 2003 2002 2004 Stock Purchase Plan 2003 2002 Weighted-average risk free rate...

  • Page 68
    ... certain executives located outside of the United States; each restricted unit represents the right to receive one share of the Company's common stock provided that the vesting conditions are satisfied. The market values of the shares and units at the date of grant amounted to $10.2 million in 2004...

  • Page 69
    ...26 Shareholder Information and Market Prices (Unaudited) Foot Locker, Inc. common stock is listed on The New York Stock Exchange as well as on the böerse-stuttgart stock exchange in Germany and the Elektronische Bo ¨ rse Schweiz (EBS) stock exchange in Switzerland. In addition, the stock is traded...

  • Page 70
    ... Quarterly Results (Unaudited) 1st Q 2nd Q 3rd Q 4th Q Year (in millions, except per share amounts) Sales 2004 ...2003 ...Gross margin (a) 2004 ...2003 ...Operating profit (b) 2004 ...2003 ...Income from continuing operations 2004 ...2003 ...Net income 2004 ...2003 ...Basic earnings per share: 2004...

  • Page 71
    ... sales ...Net debt capitalization percent (5) ...Net debt capitalization percent (without present value of operating leases) (5) ...Current ratio ...Other Data Capital expenditures ...Number of stores at year end ...Total selling square footage at year end (in millions) ...Total gross square footage...

  • Page 72
    ... the Code of Business Conduct governing our employees, including our Chief Executive Officer, Chief Financial Officer, Chief Accounting Officer, and the Board of Directors, is set forth under the heading "Code of Business Conduct" under the Corporate Governance section of the Proxy Statement and...

  • Page 73
    ... Stock" is incorporated herein by reference. Item 13. Certain Relationships and Related Transactions Information set forth in the Proxy Statement under the section captioned "Transactions with Management and Others" is incorporated herein by reference. Item 14. Principal Accountant Fees and Services...

  • Page 74
    ..., the Company has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. FOOT LOCKER, INC. By: Matthew D. Serra Chairman of the Board, President and Chief Executive Officer Date: March 28, 2005 Pursuant to the requirements of the Securities Exchange Act...

  • Page 75
    ... herein by reference to Exhibit 10(a) to the Registrant's Annual Report on Form 10-K for the year ended January 27, 1996, filed by the Registrant with the SEC on April 26, 1996 (the "1995 Form 10-K")). Foot Locker 1995 Stock Option and Award Plan (incorporated herein by reference to Exhibit 10(p) to...

  • Page 76
    .... in Item 601 of Regulation S-K Description 10.5 Amendment to the Foot Locker 1998 Stock Option and Award Plan (incorporated herein by reference to Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q for the period ended July 29, 2000, filed by the Registrant with the SEC on September...

  • Page 77
    ...'s Annual Report on Form 10-K for the year ended January 29, 2000 filed by the Registrant with the SEC on April 21, 2000 (the "1999 Form 10-K")). Form of Executive Employment Agreement (incorporated herein by reference to Exhibit 10.24 to the 1999 Form 10-K). Foot Locker, Inc. Directors' Stock Plan...

  • Page 78
    ... of Incentive Stock Option Award Agreement for Executive Officers Form of Nonstatutory Stock Option Award Agreement for Non-employee Directors (incorporated herein by reference to Exhibit 10.2 to the July 31, 2004 Form 10-Q). Long-term Disability Program for Senior Executives Computation of Ratio of...

  • Page 79
    Exhibits filed with this Form 10-K: Exhibit No. in Item 601 of Regulation S-K Description 10.1 10.2 10.3 10.4 10.5 10.6 12 21 23 31.1 31.2 32 Form of Nonstatutory Stock Option Award Agreement for Executive Officers. Form of Incentive Stock Option Award Agreement for Executive Officers. Automobile...

  • Page 80
    ... 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions) Fiscal Year Ended Jan. 29, 2005 Jan. 31, 2004 Feb. 1, 2003 Feb. 2, 2002 Feb. 3, 2001 NET EARNINGS ...Income from continuing operations ...Income tax expense ...Interest expense, excluding capitalized...

  • Page 81
    ... Locker Sweden Aktiebolag Foot Locker U.K. Limited Foot Locker Germany GmbH Foot Locker Spain S.L. Foot Locker Australia, Inc. Foot Locker New Zealand, Inc. Freedom Sportsline Limited Foot Locker Atlantic City, LLC Team Edition Apparel, Inc. Foot Locker Specialty, Inc. Foot Locker Retail, Inc. Foot...

  • Page 82
    ... (Europe) Limited FL France Holdings SNC Foot Locker Germany Holdings GmbH (1) Delaware Delaware Florida New York Canada Delaware Delaware Portugal Delaware Delaware Delaware Canada Ireland Ireland France Germany Each subsidiary company is 100% owned, directly or indirectly, by Foot Locker, Inc...

  • Page 83
    ... to record, process, summarize and report financial information; and b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant's internal control over financial reporting. March 28, 2005 3. 4. Principal Executive Officer

  • Page 84
    ... and cash flows of the Registrant as of, and for, the periods presented in this report. The Registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal...

  • Page 85
    ...Act of 2002 In connection with the Annual Report on Form 10-K of Foot Locker, Inc. (the "Registrant") for the period ended January 29, 2005, as filed with the Securities and Exchange Commission on the date hereof (the "Report"), Matthew D. Serra as Chief Executive Officer of the Registrant and Bruce...

  • Page 86

  • Page 87
    ... Investor Relations and Treasurer Peter M. Cupps Corporate Shared Services Robert W. McHugh Chief Accounting Officer Patricia A. Peck Human Resources Dennis E. Sheehan Deputy General Counsel DIVISION MANAGEMENT Nicholas M. Grayston President and Chief Executive Officer Foot Locker U.S./ Kids Foot...

  • Page 88
    FOOT LOCKER, INC. 112 West 34th Street New York, NY 10120