FOOT LOCKER, RETAIL ATHLETIC FOOTWEAR GIANT
Foot Locker, Inc. (NYSE: FL) is one of the most successful sportswear and footwear retailers in the world, with its headquarters in Midtown Manhattan, New York City, and operating in approximately 20 countries worldwide. It operates approximately 3,400 stores in 21 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/CCS, the Company is the leading provider of athletic footwear and apparel. If you’ve been to a mall and shopped for sneakers, then you’ve probably visited a Foot Locker store. Stores are always stocked with the latest athletic clothing and footwear from Nike, Reebok and Adidas. The stores are destination locations for its core customers which are aged 12 to 21 years old. Foot Locker is also known for its employees’ uniforms, resembling those of referees. Foot Locker states its mission is to increase “value for our shareholders” by enhancing our base business,” generating positive cash flow,” and “redeploying excess cash.” Formerly known as Venator Group, Inc; it is the successor corporation to the F.W. Woolworth Company. Foot Locker Inc. operates the “Foot Locker” chain of athletic footwear retail outlets along with “Kids Foot Locker: and “Lady Foot Locker” stores, Footaction USA and Champs Sports. Since Woolworth’s establishment in 1879, the business has been involved in general merchandising; in its incarnation as Venator, however, the company focused on the retailing of athletic footwear and apparel. In 2001 Venator renamed itself after its best-performing specialty chain, the Foot Locker athletic footwear shops.
The history of Foot Locker can be traced through that of Woolworth and the company’s founder, Frank Winfield Woolworth, who parlayed the idea of the five-and-ten cent store into an international retailing empire. On...
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