Foot Locker 2006 Annual Report Download - page 9

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REAL ESTATE
7
Managing the Company’s real estate
portfolio of almost 4,000 store loca-
tions effi ciently requires an extensive
organization of professionals that
have specifi c expertise, including
site selection, lease negotiations,
construction, architecture and
fi nance. Over the past several years,
the Company has completed over
500 real estate projects annually,
including store openings, closings,
remodels and relocations. At the
end of 2006, approximately 85 per-
cent of the Company’s stores were
new within the past fi ve years or had
been converted to one of its current
prototypes.