Foot Locker 8-K 2012
On March 1, 2012, Foot Locker, Inc. (the Company) issued a press release announcing its operating results for the fourth quarter and full year 2011. The press release includes a non-GAAP financial measure of fourth quarter and full-year 2011 net income before the write-down of certain intangible assets. The release also includes for 2010 a non-GAAP financial measure of fourth quarter and full-year 2010 net income before the write-down of assets, net of the partial recovery of a short-term investment that was written down in 2008. The Company believes these non-GAAP financial measures provide useful information to investors because they allow for a more direct comparison of the Companys performance for the fourth quarter and full year 2011 to the Companys performance in the comparable prior-year periods. The non-GAAP financial measures are provided in addition to, and not as an alternative to, the Companys reported results prepared in accordance with GAAP. A reconciliation to GAAP is provided in the Condensed Consolidated Statements of Operations. A copy of the press release is furnished as Exhibit 99.1, which, in its entirety, is incorporated herein by reference.
The Company is hosting a conference call on March 2, 2012, to discuss its fourth quarter 2011 and full-year 2011 financial results, provide comments on the current business environment, and its outlook for 2012. A non-GAAP to GAAP reconciliation schedule for the non-GAAP measures referred to in the Companys prepared conference call remarks is attached as Exhibit 99.2. The Company believes these non-GAAP financial measures provide useful information to investors in evaluating the Companys performance relative to its long-term financial objectives and allows for a more direct comparison of the Companys performance for 2011 as compared with 2010.
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.