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Foot Locker Hires Evercore as an Advisor

IN BRIEF/RETAIL

August 19, 2006|From Bloomberg News

Foot Locker Inc., the largest U.S. athletic-shoe retailer, has hired Evercore Partners Inc. as an advisor, Chief Executive Matthew Serra told analysts and investors.

Serra didn't specify whether Evercore will study a possible sale of the company. He also declined to comment on what he called rumors about private equity firms' interest in buying the company.

Profit at New York-based Foot Locker, which has 3,900 stores worldwide, has fallen three of the last five quarters as sales in Europe dropped. The stock slumped 15% in its fiscal year ended May 18, a day before Women's Wear Daily said Foot Locker might be bought.

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