Foot Locker 2005 Annual Report Download - page 12
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10
Lady Foot Locker operates 554 stores in the United States that
average 2,200 gross square feet. This business was developed by
the Company in 1982, with a focus on providing a “women-friend-
ly” shopping experience by offering athletically-inspired footwear
and apparel in a comfortable environment. Today, Lady Foot
Locker is uniquely positioned in the marketplace as a destination
location for the active 14 to 35 year old female shopper.
Two years ago Lady Foot Locker embarked on a strategy
designed to enhance its branded and private-label apparel offer-
ings to have greater appeal to its target customer. In 2005, Lady
Foot Locker built on the early success of this strategy by further
developing its private-label apparel program and by working
closely with its suppliers to provide more fashionable branded
footwear products that would appeal to a more diverse customer
base. These strategies contributed to solid comparable-store sales
gains and a significant increase in division profit last year.
Looking ahead, the Company believes that Lady Foot Locker will
continue to benefit from these programs.
Kids Foot Locker and Lady Foot Locker continue to produce
improving financial results.
Kids Foot Locker is the market leader in selling children's athlet-
ic footwear and apparel, targeting a mother of a 5 to 11 year old
child. This business, which was developed in 1987 to extend the
reach of Foot Locker and to appeal to a young consumer, cur-
rently operates 327 stores in the United States that average
2,400 gross square feet.
During the past three years, the Company has significantly
increased the profitability of Kids Foot Locker through the
implementation of several key strategies, including closing
underperforming stores. In 2005, Kids Foot Locker produced
another solid comparable-store sales gain and achieved record
division profit results. With the overall store base currently
operating at a much-improved division margin, the Company
plans to pursue renewed store growth for this division.