US-based athletic retailer, Foot Locker, Inc., has reported positive results for its first quarter ended April 30, 2005, recording an increase of 16.1% in sales to reach $1,377 million compared with sales of $1,186 million in the same period in 2004. Net income increased 19% to $58 million from $48 million last year.

During the first quarter, the company opened 23 new stores; remodelled/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, approximately 10% versus the first quarter of last year. This is primarily as a result of our acquisition of the Footaction chain.

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