Foot Locker 2007 Annual Report Download - page 6

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dend for 2008 by 20 percent, given
our solid fi nancial position at the end
of 2007 and refl ecting its confi dence
in the ability of our businesses to sus-
tain positive cash fl ow generation.
We believe that our associates
worldwide are our Company’s most
important asset. Their dedication
to providing the best in customer
service has distinguished our stores
from the competition for many years.
We know that our success over the
long term is dependent on our ability
to attract and retain the most compe-
tent associates available, and we are
committed to providing them with
in-depth training and a working envi-
ronment that enhances their ability to
succeed.
To achieve our long-term goals, we
also recognize that we must maintain
a strong infrastructure by continu-
ing to invest in new technologies.
Foot Locker, Inc.’s current infrastruc-
ture, which includes various shared
services, distribution centers and
information systems, supports our
existing businesses effi ciently and
has the capacity that would allow for
future expansion. We believe this
capability is another advantage that
distinguishes our operations from the
competition.
Our Company is fortunate to be
able to benefi t from the experience
of the members of our Board of Di-
rectors, who provide us with valuable
guidance to enhance our ability to
succeed. On behalf of our Board of
Directors, I would like to recognize
the contributions of Chris Sinclair,
who has been a valued member of
our Board since 1995, who is not
seeking re-election at the end of his
term this year. We would also like to
acknowledge our customers, suppli-
ers and landlords for their continuing
partnership and support.
While this past year was challeng-
ing for our Company, we believe that
our advantageous competitive edge
and strong fi nancial structure position
us well for success in 2008. Longer-
term, we believe we can fulfi ll our
commitment to our shareholders by
providing a meaningful return on their
investment through strong cash fl ow
and selective growth opportunities.
64
Longer-term, we believe we can fulfi ll our commitment
to our shareholders by providing a meaningful return on
their investment through strong cash fl ow and selective
growth opportunities.
Matthew D. Serra
Chairman of the Board, President
and Chief Executive Offi cer