Foot Locker 2012 Annual Report Download - page 6

“We intend to continue building on our
momentum in order to achieve the
financial goals we updated last year as
part of our long-range plan.”
As a result of all these iniaves, we have driven
increased trac to our stores and internet sites,
maintained consistent conversion rates, and
increased sales per gross square foot
and sales per payroll hour
signicantly.
In addion to
deploying capital to build
our business in the future,
we are also very acve in
returning cash directly to our share-
holders. In February, 2013 we announced an 11 percent
increase in our common stock dividend payable in the rst
quarter of scal 2013. This increase, to 20 cents, marks the
third year in a row with an increase in the 10 percent range.
We also announced a new three-year $600 million share
repurchase program this February, having repurchased $129
million of common stock in 2012.
Finally, we contributed $26 million to our North American
pension plans during the past year, ensuring that they remain
well-funded within applicable guidelines and regulaons.
LOOKING AHEAD
Despite the challenges that sll shadow the economies in
the United States and abroad, we are opmisc about the
opportunies that lie ahead for our business. Our enre
team of associates has done an excellent job delivering the
record nancial results I detailed at the beginning of this
leer. I want to thank each and every one of them for their
dedicaon and service, which propelled Foot Locker, Inc.
to achieve more success than ever before. To elevate our
performance even more, and be a consistent top quarle
performer in the retail industry, will require sustaining the
momentum we have built in many areas and taking advan-
tage of our signicant opportunies to accelerate it even
further. I strongly believe that we have the right team to
aggressively move our company ahead for the future.
We have been ably guided towards this goal by our
outstanding Board of Directors. We have three directors
rering this spring, including James Preston, who has served
on our Board for 30 years and was lead director for
ve years. Allen Questrom and David Schwartz
are also rering from our Board. I want to
express my deep gratude to each of them
for their strong leadership and counsel to
Foot Locker, Inc. The Execuve Commiee
and I will miss their support. However, at
the same me, we welcome Maxine Clark
to our Board. Maxine has a tremendous
record of innovaon in leading global retail
businesses, and we look forward to her experi-
ence and insights in the coming years.
Guided by our core values, the team we have at Foot
Locker, Inc. is exceponal in its focus on execung our
key strategies. The focus of our associates on serving our
customers is as clear to me when I travel to a store locaon
in Poland or Australia as it is when I walk down to the store
below my oce at lunch me. Our dedicaon to service
and teamwork is consistent whether I am vising a nancial
services center, a distribuon warehouse, or a division head-
quarters. Our passion for excellence is recognized by our
key partners, including our world-class suppliers, landlords,
and others with whom we work closely to deliver great store
formats, excing markeng campaigns, and most impor-
tantly, terric footwear and apparel assortments that our
customers really want.
Our success is ulmately realized by you, our share-
holders, many of whom I have goen to know over the last
few years. It is grafying to partner with so many of you
who believe in our team, our values, our strategies, and the
direcon we are headed. We appreciate your support as we
work to achieve our vision of becoming the leading global
retailer of athlecally inspired shoes and apparel.
Ken C. Hicks
Chairman of the Board,
President and Chief Execuve Ocer
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