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Foot Locker (FL)
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FL » Topics » Capital Expenditure Update

This excerpt taken from the FL 8-K filed Aug 19, 2005.
Capital Expenditure Update

The Company opened 27 new stores, remodeled/relocated 124 stores and closed 29 stores during the second quarter. At July 30, 2005, the Company operated 3,926 stores in 19 countries in North America, Europe and Australia. The Company also entered its 15th European nation during the second quarter with a new store in Switzerland.

For the full year, the Company increased its targeted store openings program from 100 to 110 new stores, including a total of 23 to be operated under the Footaction brand. The increased openings are expected to be funded under the Company’s existing $170 million capital expenditure program.

During the second quarter, the Company began to execute its $50 million share purchase program, by purchasing 120,000 shares in the open market at a cost of $3 million. Additional shares may be purchased based upon market prices and other factors.

The Company is hosting a live conference call at 10:00 am (EDT) on Friday, August 19, 2005. This conference call may be accessed live from the Investor Relations section of the Foot Locker, Inc. website at http://www.footlocker-inc.com. The conference call will be available for webcast replay until 5:00 pm on Monday, August 29, 2005.

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