Foot Locker (FL) April Comps Up 0.5%; Guides Below

Foot Locker, Inc. (NYSE: FL) said for the 13-week period ended April 29, 2006 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.

The company said sales fell short of 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, the company currently expects first quarter 2006 earnings will be in the range of $0.36 to $0.37 per share, versus the consensus of $0.39.

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