Sportswear and athletic shoe chain, Foot Locker Inc, has reiterated its 2002 earnings outlook and said it expects to earn 22-24 cents per share during the second quarter of 2002 - up 10-20 per cent on last year's figures.

The New York-based company's president and CEO, Matthew Serra, told shareholders at its AGM that it sees continued earnings growth and for the full-year expects to earn $1.12 to $1.15 per share - a gain of up to 17 per cent over 2001.

"Continuing to build shareholder value remains our paramount goal, and we are committed to delivering on our financial objectives," Mr Serra commented.

"We are off to an encouraging start in 2002, and we believe that, despite the difficult economic environment in which we are operating today, our strategic initiatives will drive our sales and earnings and provide meaningful value to our shareholders."

Last month, the operator of around 3,600 stores reported income from continuing operations of $38 million, or 26 cents per share, compared with adjusted income from continuing operations of $34m, or 24 cents per share, in the year-ago period.