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This excerpt taken from the FL 8-K filed Mar 11, 2008. 2008 Outlook The Company’s current guidance for its full year 2008 is as follows:
Mr. Serra remarked, “Despite our outlook for substantial earnings improvement in 2008 versus 2007, we still regard the economic climate for footwear retailers in the United States to be challenging. As a result, we have planned our business conservatively for 2008, although we do expect to benefit from a meaningful improvement in our gross margin rate primarily reflecting lower markdowns.” -- MORE – “Given our solid financial position at the end of 2007 and confidence in the ability of our businesses to sustain positive cash flow generation, as we have previously announced, our Board of Directors voted last month to increase our common stock dividend for 2008 by 20 percent. We will continue to evaluate all opportunities to enhance shareholder value, balanced prudently against maintaining a strong financial structure.” Capital expenditures for 2008 are planned at $160 million, with a focus on implementing initiatives designed to improve the Company’s existing business. The Company plans to open approximately 60 stores, remodel or relocate 200 stores, and close approximately 140 stores. Included in the capital plan are funds to freshen the look of additional stores with improved flooring, lighting and other modifications to provide a more pleasant shopping experience. The Company is hosting a live conference call at 9:00 a.m. (ET) on Tuesday, March 11, 2008 to discuss these results. 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 p.m. on Monday, March 17, 2008. This excerpt taken from the FL 8-K filed Mar 8, 2007. 2007 Outlook The Company’s strategic plan includes the planned implementation in 2007 of several key initiatives that are expected to add meaningfully to shareholder value. The planned strategic initiatives for 2007 include:
Capital expenditures for 2007 are planned at $170 million to support its existing business and the development of Footquarters. The Company currently expects its fiscal year 2007 earnings from continuing operations, and without the benefit of the 53rd week that added $0.11 per share to 2006 earnings, to be in the range of $1.55 to $1.65 per share. The Company currently expects its first quarter earnings to be in the range of $0.34 to $0.37 per share. The Company plans to discontinue the practice of reporting quarterly sales information in a separate release prior to the reporting of its quarterly earnings. The Company believes that the simultaneous release of quarterly earnings and sales information in one press release is a practice that is becoming more common among industry peers, and is also consistent with best practices. Thus, beginning with the first quarter of 2007, the Company will issue one press release on May 24, 2007 that will report both sales and earnings for that period. The Company is hosting a live conference call at 10:00 a.m. (EST) on Thursday, March 8, 2007 to discuss these results and provide guidance with regard to its strategic and earnings outlook for 2007. 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 p.m. on Friday, March 16, 2007. This excerpt taken from the FL 8-K filed Mar 2, 2006. 2006 Outlook The Company plans to focus its efforts on continuing to increase the productivity of its existing business while also pursuing its growth strategies. Capital expenditures are planned at $190 million, an increase of 17 percent versus 2005. The Company plans to open approximately 175 new stores, remodel and relocate 350 stores, and close 110 stores. A low-to-mid single digit comparable-store sales increase is planned for 2006, which the Company currently expects will contribute to an earnings increase to between $1.75 and $1.85 per share. The Company currently expects its first quarter earnings to be in the range of $0.37 to $0.40 per share. The Company is hosting a live conference call at 10:00 am (EST) on Thursday, March 2, 2006 to discuss these results and provide guidance with regard to its earnings outlook for 2006. 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 web-cast replay until 5:00 pm on Monday, March 6, 2006. This excerpt taken from the FL 8-K filed Mar 2, 2005. 2005 Outlook
The Company is encouraged that it will continue to build upon its track record of generating solid sales and earnings per share increases. For 2005, a comparable-store sales increase in the low-to-mid single digit range is currently expected with earnings per share growth of 10-to-20 percent. The Company currently expects its first quarter earnings per share to increase towards the high end of this 10-to-20 percent range, with an opportunity to exceed this guidance if its current sales trend continues. Capital expenditures are planned at $170 million for 2005, including the opening of up to 100 new stores and remodeling/relocating of 275 stores.
The Company is hosting a live conference call at 10:00 am (EST) on Wednesday, March 2, 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, March 14, 2005.
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