Foot Locker 2007 Annual Report Download

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2007 ANNUAL REPORT OUR BRAND IDENTITY

Table of contents

  • Page 1
    2007 ANNUAL REPORT OUR BRAND IDENTITY

  • Page 2
    ... and apparel. Headquartered in New York City, it operates approximately 3,800 athletic retail stores in 21 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...

  • Page 3
    ... in several global markets throughout North America, Europe and Australia. 509 European Stores 2 Guam Stores 20 Hawaii Stores 77 Australian Stores 15 New Zealand Stores Primary Customer Merchandise Mix # of Stores Average Store Size 12 to 24 Year Old Men's, Women's and Children's Athletic...

  • Page 4
    ... management and store operations teams, supported by an efficient corporate infrastructure, gives us the advantage to be successful over the long term. Additionally, Foot Locker, Inc.'s strong 2 balance sheet provides us with the financial ï¬,exibility to execute our long-term business plans...

  • Page 5
    Gross Square Footage Store Summary February 3, 2007 Foot Locker Footaction Lady Foot Locker Kids Foot Locker Foot Locker International Champs Sports Total 1,368 373 557 335 733 576 3,942 Opened 52 6 10 13 14 22 117 February 2, Closed 2008 145 23 41 27 16 22 274 1,275 356 526 321 731 576 3,785 ...

  • Page 6
    ... our long-term goals, we also recognize that we must maintain a strong infrastructure by continuing to invest in new technologies. Foot Locker, Inc.'s current infrastructure, which includes various shared services, distribution centers and information systems, supports our existing businesses ef...

  • Page 7
    COMMUNITY RELATIONS Foot Locker, Inc. has a long history of assisting the local communities in which it operates by providing funds, products and/or supplies to enhance the lives of those in need. The Company supports well-established non-profit organizations, schools and youth centers, sponsoring ...

  • Page 8
    ... Champs Sports Bowl, one of the premier NCAA post-season college football games. Internationally, the Company employs countryspecific programs designed to best communicate with its core customers in each region. For example, in Europe, Foot Locker's strong "high-street" presence allows the Company...

  • Page 9
    Marathon photos: All rights reserved@Photo Run 7

  • Page 10
    ..., Lady Foot Locker, Kids Foot Locker and Champs Sports. These domestic retail stores are located in enclosed shopping malls, strip centers and street locations, in both suburban and urban markets. The Company developed its namesake brand, Foot Locker, in 1974 to offer athletic footwear and apparel...

  • Page 11
    9

  • Page 12
    ... in international markets, currently with 731 Foot Locker stores in Europe, Canada and Australia, and 37 Champs Sports stores in Canada. The Company has a long history of operating successfully in international markets, beginning with the opening of its first Foot Locker store in Canada in...

  • Page 13
    11

  • Page 14
    ...of sporting goods and accessories through user-friendly catalogs, websites and social media outlets. In 1997, the Company purchased Eastbay, a well-established catalog operation, to increase its market share by selling direct to new and existing customers. Eastbay's loyal online and catalog customer...

  • Page 15
    ... file number 1-10299 FOOT LOCKER, INC. (Exact name of Registrant as specified in its charter) 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...

  • Page 16
    ... 8 Item 9 Item 9A Item 9B PART III Item 10 Item 11 Item 12 Item 13 Item 14 PART IV Item 15 Exhibits and Financial Statement Schedules ...66 Directors, Executive Officers and Corporate Governance ...Executive Compensation ...Security Ownership of Certain Beneficial Owners and Management and Related...

  • Page 17
    ... 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 to...

  • Page 18
    ..., sporting goods stores and superstores, department stores, discount stores, traditional shoe stores, and mass merchandisers, many of which are units of national or regional chains that have significant financial and marketing resources. The principal competitive factors in our markets are price...

  • Page 19
    ... product from these vendors in future periods. Approximately 56 percent was purchased from one vendor - Nike, Inc. ("Nike"). Each of our operating divisions is highly dependent on Nike; they individually purchase 43 to 74 percent of their merchandise from Nike. We have no long-term supply contracts...

  • Page 20
    ... operating results for 2007 were attributable to our sales in Europe, Canada, New Zealand, and Australia. As a result, our business is subject to the risks associated with doing business outside of the United States, such as foreign governmental regulations, foreign customer preferences, political...

  • Page 21
    ... countries, Australia, and New Zealand. The Company currently operates four distribution centers, of which two are owned and two are leased, occupying an aggregate of 2.54 million square feet. Three of the four distribution centers are located in the United States and one is in Europe. Item 3. Legal...

  • Page 22
    ... the executive officers or directors of the Company. PART II Item 5. Market for the Company's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Information regarding the Company's market for stock exchange listings, common equity, quarterly high and low prices, and...

  • Page 23
    ... five-year total return to shareholders on Foot Locker, Inc.'s common stock relative to the total returns of the Russell 2000 Index and a selected peer group, which represents its peers as retailers in the athletic footwear and apparel industry. The peer group comprises: • Dick's Sporting Goods...

  • Page 24
    ... customers are young urban males that seek street-inspired fashion styles. Its 356 stores are located throughout the United States and Puerto Rico and focus on marquee allocated footwear and branded apparel. The Footaction stores have an average of 2,900 selling square feet. Lady Foot Locker - Lady...

  • Page 25
    ...service e-commerce sites access to an integrated fulfillment and distribution system. The Company has a strategic alliance to offer footwear and apparel on the Amazon.com website and the Foot Locker brands are featured in the Amazon.com specialty stores for apparel and accessories and sporting goods...

  • Page 26
    ... Box Company distribution center. These amounts are included in selling, general and administrative expenses in the Consolidated Statements of Operations. (2) On March 11, 2008, we filed a Current Report on Form 8-K, which included a press release announcing our fourth quarter and full year 2007...

  • Page 27
    ... and amortization related to the Company's corporate headquarters, centrally managed departments, unallocated insurance and benefit programs, certain foreign exchange transaction gains and losses, and other items. Corporate expense decreased by $9 million to $59 million in 2007 as compared...

  • Page 28
    ...Interest Expense, Net 2007 2006 (in millions) 2005 Interest expense ...Interest income ...Interest expense, net ...Weighted-average interest rate (excluding facility fees): Short-term debt ...Long-term debt...Total debt ...Short-term debt outstanding during the year: High...Weighted-average... $ 21...

  • Page 29
    ... expense. Athletic Stores 2007 2006 (in millions) 2005 Sales...Division (loss) profit ...Sales as a percentage of consolidated total ...Division (loss) profit margin ...Number of stores at year end ...Selling square footage (in millions) ...Gross square footage (in millions) ...2007 compared with...

  • Page 30
    ... to the Foot Locker Europe division due to the fashion shift from higher priced marquee footwear to lower priced lowprofile footwear styles and a highly competitive retail environment, particularly for the sale of low-profile footwear styles. Included in the Athletic Stores division profit for 2006...

  • Page 31
    ..., fashion trends, competitive market forces or customer acceptance of the Company's merchandise mix and retail locations, uncertainties related to the effect of competitive products and pricing, the Company's reliance on a few key vendors for a significant portion of its merchandise purchases, and...

  • Page 32
    ... 334,200 shares of its common stock for approximately $8 million. Capital Structure During 2004, the Company obtained a 5-year, $175 million term loan to finance a portion of the purchase price of the Footaction stores. The Company has repaid $87 million of the term loan, in advance of the scheduled...

  • Page 33
    ... to stock plans, and an increase of $60 million in the foreign exchange currency translation adjustment, primarily related to the value of the euro in relation to the U.S. dollar. Additionally, the Company repurchased 2,283,254 shares of common stock for approximately $50 million during the year. As...

  • Page 34
    ... open purchase orders, as well as minimum required purchases under merchandise contractual agreements, at February 2, 2008. The Company is obligated under the terms of purchase orders; however, the Company is generally able to renegotiate the timing and quantity of these orders with certain vendors...

  • Page 35
    ...-related rebates are recorded in cost of sales when the product is sold and they contributed 10 basis points to the 2007 gross margin rate. The Company receives support from some of its vendors in the form of reimbursements for cooperative advertising and catalog costs for the launch and promotion...

  • Page 36
    ... Company's intentions with regard to the plans. Management believes that its estimates for 2007, as disclosed in "Item 8. Consolidated Financial Statements and Supplementary Data," to be reasonable. Long-Term Rate of Return Assumption - The expected long-term rate of return on invested pension plan...

  • Page 37
    ...actual return on plan assets in a given year may differ from the expected long-term rate of return and the resulting gain or loss is deferred and amortized into the plans' expense over time. Discount Rate - An assumed discount rate is used to measure the present value of future cash flow obligations...

  • Page 38
    ..., customer demand, fashion trends, competitive market forces, uncertainties related to the effect of competitive products and pricing, customer acceptance of the Company's merchandise mix and retail locations, the Company's reliance on a few key vendors for a majority of its merchandise purchases...

  • Page 39
    ... necessary in response to changing business conditions. The Company also maintains an internal audit function to assist management in evaluating and formally reporting on the adequacy and effectiveness of internal accounting controls, policies and procedures. The Company's financial statements have...

  • Page 40
    ... or that the degree of compliance with the policies or procedures may deteriorate. Management assessed the effectiveness of the Company's internal control over financial reporting as of February 2, 2008. In making this assessment, management used the criteria set forth by the Committee of Sponsoring...

  • Page 41
    ... when Quantifying Misstatements in Current Year Financial Statements." We also have audited, 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 February 2, 2008...

  • Page 42
    ... of the Public Company Accounting Oversight Board (United States), the consolidated balance sheets of Foot Locker, Inc. and subsidiaries as of February 2, 2008 and February 3, 2007, and the related consolidated statements of operations, comprehensive income, shareholders' equity, and cash flows for...

  • Page 43
    ... OPERATIONS 2007 2006 2005 (in millions, except per share amounts) Sales ...Costs and expenses Cost of sales ...Selling, general and administrative expenses...Depreciation and amortization ...Impairment charges and store closing program costs ...Interest expense, net...Other income ...(Loss) Income...

  • Page 44
    ... in cash flow hedges: ...Minimum pension liability adjustment: Minimum pension liability adjustment, net of deferred tax expense of $-, $120 and $10 million, respectively ...Pension and postretirement plan adjustments, net of income tax benefit of $11 million ...Unrealized loss on available-for-sale...

  • Page 45
    ...LIABILITIES AND SHAREHOLDERS' EQUITY Current liabilities Accounts payable ...Accrued and other liabilities ...Current portion of long-term debt and obligations under capital leases ...Long-term debt and obligations under capital leases ...Other liabilities...Total liabilities ...Shareholders' equity...

  • Page 46
    ... 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 ...Share-based compensation expense ...Issued under director and employee stock plans, net of tax...

  • Page 47
    ... Activities Reduction in long-term debt ...Repayment of capital lease ...Dividends paid on common stock ...Issuance of common stock ...Treasury stock reissued under employee stock plans...Purchase of treasury shares ...Tax benefit on stock compensation ...Net cash used in financing activities...

  • Page 48
    ... the 52 weeks ended January 28, 2006. References to years in this annual report relate to fiscal years rather than calendar years. Revenue Recognition Revenue from retail stores is recognized at the point of sale when the product is delivered to customers. Internet and catalog sales revenue is...

  • Page 49
    ... the expected customer response period to each catalog, which is generally 90 days. Cooperative reimbursements earned for the promotion of certain products is agreed upon with vendors and is recorded in the same period as the associated catalog expenses are amortized. Prepaid catalog costs totaled...

  • Page 50
    ... service periods of the awards. Prior to January 29, 2006, the Company accounted for these stock-based compensation plans in accordance with APB No. 25 and related interpretations. This method did not result in compensation cost for stock options and shares purchased under employee stock purchase...

  • Page 51
    ... at its current owned retail valuation to determine the cost of ending inventory on a department basis. The Company provides reserves based on current selling prices when the inventory has not been marked down to market. Merchandise inventories of the Direct-to-Customers business are valued at the...

  • Page 52
    ... its annual impairment review as of the beginning of each fiscal year. The fair value of each reporting unit is determined using a combination of market and discounted cash flow approaches. During the third and fourth quarters of 2007, the Company performed reviews of its U.S. Athletic stores...

  • Page 53
    ...forward foreign exchange 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 On February 4, 2007, the Company adopted FASB Interpretation No. 48, "Accounting for...

  • Page 54
    ... does not currently affect the Company. 2. Impairment of Long-Lived Assets and Store Closing Program During 2007, the Company concluded that triggering events had occurred at its U.S. retail store divisions, comprising Foot Locker, Lady Foot Locker, Kids Foot Locker, Footaction, and Champs Sports...

  • Page 55
    ... to the fashion shift from higher priced marquee footwear to lower priced lowprofile footwear styles and a highly competitive retail environment, particularly for the sale of low-profile footwear styles. The charge was comprised primarily of stores located in the U.K. and France. 3. Staff Accounting...

  • Page 56
    ... is division results. Division profit reflects (loss) income from continuing operations before income taxes, corporate expense, non-operating income, and net interest expense. Sales 2007 2006 (in millions) 2005 Athletic Stores ...Direct-to-Customers ...Family Footwear ...Total sales ...Operating...

  • Page 57
    ... Stores ...Direct-to-Customers ...Corporate ...Total Company ... $ 146 6 152 14 $166 $ 147 6 153 22 $ 175 $141 6 147 24 $ 171 $ 125 7 132 16 $ 148 $ 135 4 139 26 $ 165 $ 137 6 143 12 $ 155 $2,298 197 2,495 753 $3,248 $ 2,374 195 2,569 680 $3,249 $2,322 196 2,518 794 $ 3,312 Sales and long...

  • Page 58
    ... the global credit and capital markets, the Company's preferred stock auction rate security, having a face value of $7 million, has experienced failed auctions. The Company determined that a temporary impairment has occurred and therefore has recorded a charge of $2 million, with no tax benefit, to...

  • Page 59
    ...-Customers ... $186 80 $266 $ 184 80 $ 264 The effect of foreign exchange fluctuations for the fiscal year ended February 2, 2008 increased goodwill by $2 million, resulting from the strengthening of the euro in relation to the U.S. dollar. During the third and fourth quarters of 2007, the Company...

  • Page 60
    ... In October 2007, the Company amended its revolving credit agreement to provide for a one-year extension of the revolving credit facility to May 19, 2010 and a reduction in the fixed charge coverage ratio to no less than 1.25:1 for the fourth quarter of 2007 and the first quarter of 2008, increasing...

  • Page 61
    ... 15. Long-Term Debt and Obligations under Capital Leases In May 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 interest rate on...

  • Page 62
    ... related to long-term debt and capital lease obligations, including the effect of the interest rate swaps and the amortization of the associated debt issuance costs was $18 million in 2007 and $20 million in both 2006 and 2005. The effect of the interest rate swaps was not significant for the years...

  • Page 63
    ... an amount due under the terms of the note. The purchaser has made all payments required under the terms of the note; however, the business has sustained unexpected operating losses during the past fiscal year. The Company has evaluated the projected performance of the business and will continue to...

  • Page 64
    ... non-core businesses. The restructuring plan also included an accelerated store-closing program in North America and Asia, 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...

  • Page 65
    ...: 2007 2006 (in millions) 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 ...Other ...Total...

  • Page 66
    ...'s U.S. Federal income tax filings have been examined by the Internal Revenue Service (the "IRS") through 2006. The Company is participating in the IRS's Compliance Assurance Process ("CAP") for 2007, which is expected to conclude during 2008. The Company has started the CAP for 2008. Due to the...

  • Page 67
    ... to cost of sales related to such contracts was not significant in 2007. The ineffective portion of gains and losses related to cash flow hedges recorded to earnings in 2007 was not significant. When using a forward contract as a hedging instrument, the Company excludes the time value from the...

  • Page 68
    ... in the fair market value recorded in the Consolidated Statement of Operations were not significant for the years ended February 2, 2008 and February 3, 2007, respectively. The Company also enters into forward foreign exchange contracts to hedge foreign-currency denominated merchandise purchases and...

  • Page 69
    ... of cash and cash equivalents, other short-term investments and other current receivables and payables approximate their fair value. Business Risk The retailing business is highly competitive. Price, quality, selection of merchandise, reputation, store location, advertising and customer service are...

  • Page 70
    ...funded status of a defined benefit postretirement plan in the year in which the changes occur. Those changes will be reported in accumulated comprehensive loss. The initial effect of the standard, due to unrecognized prior service cost and net actuarial gains or losses, as well as subsequent changes...

  • Page 71
    ... the next year are as follows: Pension Postretirement Benefits (in millions) Total Amortization of prior service cost (benefit) ...Amortization of net loss (gain) ... $ 1 $12 $(1) $(7) $- $ 5 The following represents the change to the Consolidated Balance Sheet as of February 3, 2007 as a result...

  • Page 72
    ...1% 100% The expected long-term rate of return on invested plan assets is based on historical long-term performance and future expected performance of those assets based upon current asset allocations. The U.S. defined benefit plan held 396,000 shares of Foot Locker, Inc. common stock as of February...

  • Page 73
    ... of those plans. Under the 2007 Stock Plan, stock options, restricted stock, stock appreciation rights (SARs), or other stock-based awards may be granted to officers and other employees of the Company, including our subsidiaries and operating divisions worldwide. Nonemployee directors are also...

  • Page 74
    ...10 percent of their annual compensation through payroll deductions to acquire shares of the Company's common stock at 85 percent of the lower market price on one of two specified dates in each plan year. Under the 2003 Employee Stock Purchase Plan, 3,000,000 shares of common stock are authorized for...

  • Page 75
    ... the fair market value as the end of the period and the exercise price of the shares. The Company received $6.9 million and $6.8 million in cash from option exercises for 2007 and 2006, respectively. The tax benefit realized by the Company on the stock option exercises for 2007 was approximately...

  • Page 76
    ... of total unrecognized compensation cost related to nonvested stock options, which is expected to be recognized over a weighted-average period of 1 year. Restricted Shares and Units Restricted shares of the Company's common stock may be awarded to officers and key employees of the Company. For...

  • Page 77
    ... entities or financial partnerships, including variable interest entities. 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...

  • Page 78
    27. Quarterly Results (Unaudited) 1st Q 2nd Q 3rd Q 4th Q Year (in millions, except per share amounts) Sales 2007...2006 (a) ...Gross margin (b) 2007...2006 (a) ...Operating profit (loss) (c) 2007...2006 (a) ...Income (loss) from continuing operations 2007 ...2006 (a) ...Net income (loss) 2007 ......

  • Page 79
    ... and short-term investments ...Merchandise inventories ...Property and equipment, net(4) ...Total assets(4) ...Short-term debt ...Long-term debt and obligations under capital leases ...Total shareholders' equity...Financial Ratios Return on equity (ROE) ...Operating (loss) profit margin ...Income...

  • Page 80
    ... that information relating to the Company that is required to be disclosed in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC rules and form, and is accumulated and communicated to management...

  • Page 81
    ...Financial Officer, Chief Accounting Officer, and the Board of Directors, is set forth under the heading "Code of Business Conduct" under the Corporate Governance Information section of the Proxy Statement and is incorporated herein by reference. (d) (e) Item 11. Executive Compensation Information...

  • Page 82
    ... is set forth in Item 8. "Consolidated Financial Statements and Supplementary Data." (a)(3) and (c) Exhibits An index of the exhibits which are required by this item and which are included or incorporated herein by reference in this report appears on pages 68 through 71. The exhibits filed with this...

  • Page 83
    ... 13 or 15(d) of the Securities Exchange Act of 1934, 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 31, 2008 Pursuant...

  • Page 84
    ... Foot Locker 1998 Stock Option and Award Plan (incorporated herein by reference to Exhibit 10.4 to the Registrant's Annual Report on Form 10-K for the year ended January 31, 1998, filed by the Registrant with the SEC on April 21, 1998). Amendment to the Foot Locker 1998 Stock Option and Award Plan...

  • Page 85
    ...1995 Form 10-K")). Supplemental Executive Retirement Plan, as Amended and Restated (incorporated herein by reference to Exhibit 10.1 to the Current Report on Form 8-K dated August 13, 2007 filed by the Registrant with the SEC on August 17, 2007). Long-Term Incentive Compensation Plan, as amended and...

  • Page 86
    ...by reference to Exhibit 10.40 to the Annual Report on Form 10-K for the year ended January 28, 2006 filed by the Registrant with the SEC on March 27, 2006 (the "2005 Form 10-K")). Form of Incentive Stock Option Award Agreement for Executive Officers (incorporated herein by reference to Exhibit 10.41...

  • Page 87
    ... of Regulation S-K Description 12 21 23 31.1 31.2 32 Computation of Ratio of Earnings to Fixed Charges.* Subsidiaries of the Registrant.* Consent of Independent Registered Public Accounting Firm.* Certification of Chief Executive Officer Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002...

  • Page 88
    EXHIBIT 12 FOOT LOCKER, INC. COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Unaudited) ($ in millions) Feb. 2, 2008 Feb. 3, 2007 Fiscal Ended Jan. 28, 2006 Jan. 29, 2005 Jan. 31, 2004 NET EARNINGS Income from continuing operations ...Income tax (benefit) expense ...Interest expense, excluding ...

  • Page 89
    ... France Italy Netherlands Germany Germany Spain Delaware Delaware United Kingdom Florida New York New York Delaware Each subsidiary company is 100% owned, directly or indirectly, by Foot Locker, Inc. All subsidiaries are consolidated with Foot Locker, Inc. for accounting and financial reporting...

  • Page 90
    ..., Lda. Foot Locker Greece Athletic Goods Ltd. Foot Locker Suisse S.A. Foot Locker Scandinavia B.V. Foot Locker Hungary Kft FL Corporate NY, LLC FL France Holdings SAS FL Retail NY, LLC FL Specialty NY, LLC Foot Locker Canada Holdings ULC Foot Locker Retail Ireland Limited FL Finance (Europe) Limited...

  • Page 91
    ... 106, and 132(R)," as well as a change in Foot Locker, Inc.'s method for quantifying errors based on SEC Staff Accounting Bulletin No. 108, "Considering the Effects of Prior Year Misstatements when Quantifying Misstatements in Current Year Financial Statements." New York, New York March 31, 2008 75

  • Page 92
    ... financial condition, results of operations 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...

  • Page 93
    ... financial condition, results of operations 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...

  • Page 94
    ... of 2002 In connection with the Annual Report on Form 10-K of Foot Locker, Inc. (the "Registrant") for the period ended February 2, 2008, 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 Robert...

  • Page 95
    ... and Canada (800) 231-5469 Hearing Impaired -TTY Phone www.bnymellon.com/shareowner/isd Independent Registered Public Accounting Firm KPMG LLP 345 Park Avenue New York, New York 10154 (212) 758-9700 Service Marks/Trademarks Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports...

  • Page 96
    FOOT LOCKER, INC. 112 West 34th Street New York, NY 10120