Foot Locker's pre-tax profits up 23% on strong sales in Q1
19 May '05
3 min read
mr. serra continued, "one of foot locker, inc.'s unique strengths is its diversified portfolio of businesses operating in global markets. as expected, our first quarter profit increase was driven by our combined united states store businesses, which benefited from increased sales of higher-priced marquee footwear that led to higher average selling prices. increased profits by our highly suburban-based champs sports division, and earnings accretion from our recently acquired more urban-concentrated footaction stores, both contributed to our improving first quarter results. while business remained challenging in the european markets where we operate, our divisional profit and profit margin at foot locker europe was strong."
store base update
during the first quarter, the company opened 23 new stores; remodeled/relocated 90 stores and closed 62 stores. at april 30, 2005, the company operated 3,928 stores in 18 countries in north america, europe and australia. this represents an increase of 341 stores, or approximately 10 percent versus the first quarter of last year, primarily as a result of our acquisition of the footaction chain.
the company is hosting a live conference call at 10:00 a.m. (edt) on thursday, may 19, 2005 to discuss these results and provide guidance with regard to its earnings outlook for 2005. this conference call may be accessed live from the investor relations section of the foot locker, inc. website at http://www.footlocker-i19, 2005 to discuss these results and provide guidance with regard to its earnings outlook for 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, may 30, 2005. 19, 2005 to discuss these results and provide guidance with regard to its earnings outlook for 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, may 30, 2005.
foot locker inc is a world leading athletic footwear retailer.
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