Foot Locker 2008 Annual Report Download - page 2

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This report contains forward-looking statements within the meaning of the federal securities laws. All statements, other than statements of historical facts,
that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including, but not limited to, such
things 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
many assumptions and factors detailed in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K
for the 2008 fiscal year. Any changes in such assumptions or factors could produce significantly different results. The Company undertakes no obligation to
update forward-looking statements, whether as a result of new information, future events, or otherwise.
ABOUT THE COMPANY
Foot Locker, Inc. (NYSE: FL) is the world’s leading retailer
of athletic footwear and apparel. Headquartered in
New York City, it operates approximately 3,600 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.com/Eastbay/
CCS business operates a direct-to-customers business
offering athletic footwear, apparel and equipment
through its Internet and catalog channels.
FINANCIAL HIGHLIGHTS
(Millions, except per share amounts)
2004 2005 2006 2007 2008
Sales $ 5,355 $ 5,653 $ 5,750 $ 5,437 $ 5,237
Adjusted financial results:*
Income from continuing operations $ 255 $ 263 $ 259 $ 62 $ 106
Diluted EPS from continuing operations $ 1.64 $ 1.67 $ 1.66 $ 0.40 $ 0.68
Cash, cash equivalents and short-term
investment position, net of debt $ 127 $ 261 $ 236 $ 272 $ 266
Net debt capitalization percent** 50.4% 45.2% 44.4% 45.1% 46.7%
Book value per share*** $ 11.72 $ 13.04 $ 14.74 $ 14.63 $ 12.42
* See page 11 of Form 10-K for reconciliation of GAAP to non-GAAP adjusted results
** See page 19 of Form 10-K for definition
*** Shareholders’ equity divided by common shares outstanding
TABLE OF CONTENTS
Shareholder Commitment ....................................... 1
Letter to Shareholders ............................................. 2
Community Relations ............................................... 5
Foot Locker .............................................................. 6
Kids Foot Locker/Lady Foot Locker ........................ 8
Footaction ................................................................ 9
Footlocker.com/Eastbay/CCS .................................. 10
Champs Sports ......................................................... 12
Form 10-K ................................................................ 13
Board of Directors, Corporate Management,
Division Management, Corporate Information ....... IBC