Tuesday, October 4, 2005 -

1Q Comps Ahead 10.5% at Fleet Feet Stores

MAY 24, 2005 -- Fleet Feet, Inc. said its 64 stores recorded a 15.0 percent growth in overall retail sales for the first quarter of 2005 as compared to first quarter 2004.

Total retail sales for the quarter were a record high $11 million. Comparative stores sales for the quarter were up 10.5 percent over 2004.

“The continued growth and success of Fleet Feet stores nationwide is a tribute to the hard work, dedication and skills of our outstanding franchise owners,” said Fleet Feet President, Jeff Phillips. “This incredible group of franchisees is able to maintain strong relationships with customers, vendors and their communities while building and managing an intensely competitive business.”

Three new Fleet Feet stores opened in the first quarter 2005. Fleet Feet gained presence in Hickory, North Carolina; Madison, Wisconsin; and Stockton, California. Planned new store openings for the summer 2005 include Gaithersburg, Maryland; Kailua, Hawaii; and Elmhurst, Illinois.

“With such a strong start to the year, we are confident that 2005 will be one of the best in Fleet Feet history,” stated Phillips. “We are continuing to innovate and improve our customer service with the implementation of a sports bra fitting process. We've taken the methods used in the Fleet Feet Personal FIT Process that places consumers in the right products for their feet, and created a unique and powerful process to personalize the fitting of sports bras.”

Joey Pointer, Fleet Feet financial manager, said April has been particularly strong, benefitting from five weeks versus four weeks the prior year as well as underlying strength in the running category.

“April has been a pretty good month for us, and that's kind of an anomaly to the retail industry,” said Pointer.

Pointer said Fleet Feet franchises continue to roll out its Personal FIT Process. The stores have been focusing more on socks and bras, and recently signed a new sock brand, Balega, as part of its Personal FIT program. Champion and Moving Comfort are leading the sports bras effort.

“We just started the program last July with training, and we're really starting to see the fruits of that labor now,” said Pointer.

Fleet Feet 's corporate headquarters in Carrboro, N.C., as well as offices in Sacramento, Calif., and Boulder, Colo.

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