Foot Locker Inc. president and CEO Matthew D. Serra told shareholders yesterday that he sees continued expansion of the company’s catalog and Internet businesses as an integral part of its growth strategy.
At the company’s annual meeting, Serra noted that the company also plans to open 1,000 additional stores over the next three years. The company’s Wausau, WI distribution facility was recently doubled in size to help fulfill Foot Locker’s growing direct operations.
Serra said New York-based Foot Locker expects to earn $0.22-to-$0.24 per share during the second quarter of 2002, a 10% to 20% increase over the comparable period of last year. For the full year, earnings of $1.12 to $1.15 per share are projected, a gain of between 14% to 17% over 2001.
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