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UNITED STATES |
SECURITIES AND EXCHANGE COMMISSION |
WASHINGTON, D.C. 20549 |
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FORM 8-K |
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CURRENT REPORT |
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 |
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Date of Report (Date of earliest event reported): March 10, 2011 |
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Foot Locker, Inc. |
(Exact Name of Registrant as Specified in its Charter) |
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New York |
1-10299 |
13-3513936 |
(State or other
Jurisdiction |
(Commission File Number) |
(I.R.S. Employer |
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112 West 34th Street, New York, New York |
10120 |
(Address of Principal Executive Offices) |
(Zip Code) |
Registrants telephone number, including area code: 212-720-3700
Former
Name/Address
(Former name or former address, if changed from last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 7.01. |
Regulation FD Disclosure |
On March 10, 2011, Foot Locker, Inc. (the Company) management will be presenting at the Bank of America Merrill Lynch 2011 Consumer Conference in New York City. The related written presentation of the Company is furnished as Exhibit 99.1. A non-GAAP to GAAP reconciliation schedule for the non-GAAP measures referred to in the presentation is attached as Exhibit 99.2.
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Item 9.01. |
Financial Statements and Exhibits |
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(c) |
Exhibits |
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99.1 |
Foot Locker, Inc. presentation slides |
99.2 |
Non-GAAP to GAAP Reconciliation Schedule |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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FOOT
LOCKER, INC. |
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Date: March 10, 2011 |
By: |
/s/ Robert W. McHugh |
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Executive Vice President and |
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Chief Financial Officer |
Exhibit 99.1
2011 Bank of America Merrill Lynch Consumer Conference
March 10, 2011
This presentation contains forward-looking statements within the meaning of
the federal
securities laws. Other than statements of historical facts, all statements which address
activities, events, or developments that the Company expects will or may occur in the future,
including, but not limited to, such things as future
capital expenditures, expansion, strategic
plans, dividend payments, stock repurchases, growth of the Companys business and
operations, including future cash flows, revenues, and earnings, and other such matters, are
forward-looking statements.
These forward-looking statements are based on many
assumptions and factors detailed in the Companys filings with the Securities and Exchange
Commission, including the effects of currency fluctuations, customer demand, fashion trends,
competitive
market forces, uncertainties related to the effect of competitive products and
pricing, customer acceptance of the Companys merchandise mix and retail locations, the
Companys reliance on a few key vendors for a majority of its merchandise
purchases
(including a significant portion from one key vendor), unseasonable weather, further
deterioration of global financial markets, economic conditions worldwide, any changes in
business, political, and economic conditions due to the threat
of future terrorist activities in
the United States or in other parts of the world and related U.S. military action overseas, the
ability of the Company to execute its business and strategic plans effectively with regard to
each of its business
units, and risks associated with foreign global sourcing, including
political instability, changes in import regulations, and disruptions to transportation services
and distribution. Any changes in such assumptions or factors could produce significantly
different results. The Company undertakes no obligation to update forward-looking
statements, whether as a result of new information, future events, or otherwise.
Disclosure Regarding Forward-Looking Statements
Introduction
Strategic Vision
Strategic Plan
2010 Financial Results and Long-Term Objectives
Opportunities
Summary
Strategic Vision
To be the leading global retailer of
athletically inspired shoes and apparel
Strategic Plan
1.
Be the Power Merchandiser of athletic shoes and apparel with clearly defined Brand Banners
2.
Develop a compelling Apparel assortment
3.
Make our stores and internet sites Exciting Places to shop and buy
4.
Aggressively pursue Growth Opportunities
5.
Increase the Productivity of all of our assets
6.
Build on our industry leading Retail Team
Power Merchandiser
I.
Broaden our Range of athletic shoes and apparel to Reach More
Customers
II.
Strengthen our position with Leading Athletic Brands with strong
partnerships
III.
Develop powerful Marketing programs
Compelling Apparel Assortment
I.
Be a leader in Branded Athletic apparel in look and function
II.
Create a meaningful Private Label apparel business
III.
Strengthen our In-Store Merchandising of apparel
Exciting Places to Shop and Buy
I.
Capitalize on our strong customer service model
II.
Create a consistent, exciting shopping environment
III.
Connect our channels
IV.
Encourage new ideas
Growth Opportunities
I.
Expand our International position
II.
Build on our On-Line leadership
III.
Identify New Avenues for growth
IV.
Broaden our Reach for New Customers
Increase Productivity
I.
Rigorously manage our Expenses
II.
Improve our Inventory Turnover and Merchandise Flow
III.
Improve our Conversion Rate
IV.
Improve the Efficiency and Effectiveness of our operations
Industry Leading Retail Team
I.
Attract, Develop and Retain the best people in retail
II.
Build on our Sales Oriented and Customer Focused culture
III.
Strengthen the Selling and Service Skills of our stores organization
2009
2010
Sales ($ billion)
$4.9
$5.0
Sales/Avg. Gross Sq. Ft.
$333
$360
EBIT Rate*
2.8%
5.4%
Net Income Rate*
1.8%
3.4%
ROIC*
5.3%
8.3%
Long-Term
Objective
10.0%
$6.0
$400
8.0%
5.0%
Long-Term Financial Objectives
*Represents non-GAAP measures. Results adjusted to exclude impairment, inventory write-down, restructuring and income tax charges.
Opportunities
Differentiate Brand Banners Further
Enhance Footwear and Apparel Assortments
Improve Operational Execution
Accelerate Growth Initiatives
Increase Productivity of Assets
Strategic Vision
To be the leading global retailer of athletically inspired shoes and
apparel
Strategic Plan
Doing what we do well---Better and more efficiently
Pursue new growth opportunities
Financial Objectives
Stretch Goals But Realistic and Achievable
Off to a good start
Significant strengths and opportunities provide solid
foundation for Profit Growth
Positioned Well For 2011
Strategic Plan Summary
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