Leather manufacturer Foot Locker Inc, the New York-based specialty athletic retailer, reported sales for the 13-week period ended April 29th 2006 of $1,364 million, versus $1,377 million in the comparable period last year, a decrease of 0.9 percent.
For this same 13-week period, comparable store sales increased 0.5 percent. Excluding the effect of foreign currency fluctuations, total sales for the 13-week period increased 0.2 percent.
"First quarter comparable-store sales results were solid in our North American businesses, but continued to be weak in our European stores which partially reflected our less promotional posture than the first quarter of last year," stated Matthew Serra, Foot Locker Inc's Chairman and CEO.
"In total, our sales fell short of our initial expectations and were also negatively impacted by European foreign currency exchange rates which were unfavorable versus the first quarter of last year. As a result, we currently expect that our first quarter 2006 earnings will be in the range of $0.36 to $0.37 per share."
Foot Locker Inc is a specialty athletic retailer that operates approximately 4,000 stores in 20 countries in North America, Europe and Australia. Through its Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker and Champs Sports retail stores, as well as its direct-to-customer channel Footlocker.com/Eastbay, the company is the leading provider of athletic footwear and apparel.
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