This excerpt taken from the FL 8-K filed Nov 6, 2008.
First Full Year of Operation
New York, NY, November 5, 2008 Foot Locker, Inc. (NYSE: FL), the New York-based specialty athletic retailer, today announced that the Company had closed its purchase of CCS from dELiA*s, Inc. (NASDAQ: DLIA) for $103.2 million in cash. It is expected that the acquisition of CCS will be accretive to Foot Locker, Inc.s diluted earnings per share within the first full year of operation.
We are very pleased with our acquisition of CCS, the leading direct-to-consumers retailer in the United States that sells skateboard footwear, apparel and accessories through catalogs and the Internet, stated Matthew D. Serra, Chairman and Chief Executive Officer of Foot Locker, Inc. This acquisition is an important step for our Company, as we look to expand our offerings in the rapidly growing action and extreme sports categories. Our Footlocker.com/Eastbay business will support the CCS business with a well-established infrastructure that is expected to provide significant operational benefits and allow the well-regarded CCS management team to grow the business profitably.
Foot Locker, Inc. plans to report its third quarter 2008 financial results on Thursday, November 20, 2008. A conference call is scheduled for Friday, November 21, 2008 at 9:00 a.m. ET to discuss these results, provide guidance with regard to its earnings outlook for the balance of 2008 and review the details of the CCS acquisition. This conference call may be accessed live from the Investor Relations section of the Foot Locker, Inc. website at http://www.footlocker-inc.com. Please log-on to the website at least 15 minutes prior to the call in order to download any necessary software. News releases are also available on the Internet at http://www.prnewswire.com or on Foot Locker, Inc.s website at http://www.footlocker-inc.com.