N E W S R E
L EA S E
Contact: Peter D. Brown
Vice
President, Treasurer and Investor
Relations
Foot
Locker, Inc.
(212)720-4254
FOOT
LOCKER, INC. ELECTS ALAN D. FELDMAN
TO
THE BOARD OF DIRECTORS
NEW YORK,
NY, November 17, 2004 – Foot Locker, Inc. (NYSE: FL), the New York-based
specialty athletic retailer, today announced that Alan D. Feldman, President
and Chief Exectutive Officer of Midas, Inc., was elected to the Company’s Board
of Directors, effective February 1, 2005.
“We are
very pleased to welcome an executive with the credentials of Alan Feldman to
our Board of Directors,” stated Matthew D. Serra, Chairman and Chief Exectutive
Officer of Foot Locker, Inc. “We
expect that we will be able to draw upon Alan’s extensive business experience
for the benefit of our Company.”
Mr. Feldman
has nearly 30 years of business experience, primarily in senior management
positions in the consumer goods industry.
He joined Midas, Inc. in January 2003 in his current position as
President and Chief Executive Officer.
From 1994 through 2002, he held various senior management positions with
McDonald’s Corporation, having been appointed Chief Operating Officer of McDonald’s
Americas in 2001 and President of McDonald’s USA in 1998. From 1983 through 1994, Mr. Feldman served
in various senior financial and operating positions with the Pizza Hut and
Frito-Lay units of Pepsico.
Foot
Locker, Inc. is a specialty athletic retailer that operates approximately 4,000
stores in 18 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.
Disclosure Regarding
Forward-Looking Statements
This press release contains
forward-looking statements, which reflect management’s current views of future
events and financial performance. These
forward-looking statements are based on many assumptions and factors detailed
in the Company’s 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 Company’s merchandise mix and
retail locations, the Company’s reliance on a few key vendors for a majority of
its merchandise purchases (including a significant portion from one key
vendor), unseasonable weather, risks associated with foreign global sourcing,
including political instability, changes in import regulations, disruptions to
transportation services and distribution, and the presence of severe acute respiratory
syndrome, 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 plans effectively
with regard to each of its business units, including its plans for the marquee
and launch footwear component of its business, and its plans for the
integration of the Footaction stores.
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.
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