Foot Locker Retail, Inc. is an American sports and footwear retailer, with its headquarters in Midtown Manhattan, New York City, and operates in 28 countries around the world.
Although founded in 1974, and incorporated as a separate company in 1988, Foot Locker is a substitute for F. W. Woolworth Company ("Woolworth's"), as many of its freestanding stores are Woolworth's former locations. The company operates the Foot Locker chain of epic athletic footwear retailers (along with "Kids Foot Locker" and "Lady Foot Locker" stores), and other athletic based divisions including Champs Sports, Footaction USA, House of Hoops and Eastbay/Footlocker.com , which has the rights to the Final Score. The company is also famous for its employee uniforms in its flagship Foot Locker chain, similar to referees.
According to the company's filings with the SEC, on January 28, 2017, Foot Locker, Inc. has 3,363 mall-based stores in the United States, Canada, Europe and Asia. Almost 70% of its products come from Nike.
Video Foot Locker
History
In 1963, Woolworth Company purchased the Kinney Shoe Corporation and operated it as a subsidiary. In the 1960s, Kinney branched into a specialty shoe store, including Stylco in 1967, Susie Casuals in 1968, and Foot Locker on September 12, 1974. The first Foot Locker opened at Puente Hills Mall in the City of Industry, California and is still open today this. Woolworth also diversified its store portfolio in the 1980s, including Afterthoughts, Northern Reflections, Rx Place, and Champs Sports. In 1989, the company was pursuing an aggressive strategy from several specialty store formats targeted at closed shopping malls. The idea is that if a particular concept fails at a particular mall, the company can quickly replace it with a different concept. The company is aimed at 10 stores in every major shopping center in the country, but this never happened because Woolworth never developed many successful specialty store formats.
In 1988, Woolworth W. Company entered a separate company called Woolworth Corporation in New York state. The Woolworth Corporation is responsible for the operation of the Foot Locker stores, among other specialty chains operated by Woolworth's. One of the first steps is to acquire Champs Sports and change its name to Woolworth Athletic Group .
During the 1980s and 1990s, the flagship department store chain FW Woolworth Company fell into decline, ultimately culminating in the closing of the last stores operating under the name of Woolworth's in the United States in 1997. Deciding to continue its aggressive expansion into the athletic business in subsequent years, the company acquired Eastbay in 1997, the largest retailer of athletic catalogs in the United States, as well as retail retail purchases in front of sporting goods stores (purchased in 1997) and The Athletic Fitters (purchased in 1998). After 1997, Wal-Mart replaced Woolworth in Dow Jones. The Woolworth Corporation remained the holding company of Foot Locker, and in 1998 changed its name to "Venator Group, Inc." In the 1990s, Foot Locker was responsible for more than 70 percent of Kinney Shoe Corp's sales, while traditional Kinney shoe retailers declined. Venator announced the closure of the remaining Kinney Shoe and Footquarters stores on September 16, 1998.
On February 12, 1999, a federal jury in Austin awarded $ 341,000 Thursday to a former Foot Locker shoe manager who said the company systematically discriminates African-American employees by offering more opportunities for promotion to white managers.
Since the "Foot Locker" brand has become the top performance line of the Woolworth/Venator company, on November 2, 2001, Venator changed its name to Foot Locker, Inc. On November 19, 2004, Foot Locker announced that its quarterly profit rose 19 percent, helped by stronger sales.
In 2004, Foot Locker acquired the Footaction USA brand and about 350 stores from Footstar for $ 350 million. On April 14, 2004, Foot Locker Inc. announced that it agreed to buy approximately 350 Footaction stores from Footstar Inc. which went bankrupt for $ 160 million for expansion in urban areas.
On January 10, 2005, the company announced that Nick Grayston was promoted to President and Chief Executive Officer of the US Foot Locker division, replacing Tim Finn who retired from the company.
In 2007, Foot Locker joined schoolPAX to launch the Foot Locker School Rewards Program, designed to donate charities to schools that sign up and shop at Foot Locker with a key code or special school code.
In 2011, Foot Locker joins DoSomething.Org for the Foot Locker Scholar Athletes program, which appreciates high school athletes to show academic excellence as well as bend their hearts on sports teams and in their communities.
On June 26, 2012, Foot Locker celebrated its 100th anniversary of the first stock offering made by its predecessor, F. W. Woolworth Company, on the New York Stock Exchange by ringing Closing Bell for trading day.
In 2013, the company acquired German retailer Runners Point Group.
Foot Locker continues to increase in the Fortune 500 rankings, from 446 in 2011, to 435 in 2012, 413 in 2013, and 400 by 2014. Foot Locker has recorded a record turnover of 7.151 billion dollars at the end of the fiscal year.
Maps Foot Locker
CCS
Foot Locker previously had CCS, shoe retailers, clothing, and equipment for skateboards and snowboarding. In January 2014 CCS sponsored 16 professional skateboarders:
- Huston Witches
- The Lizard King
- Shane O'Neill
- Torey Pudwill
- Rick Howard
- David GonzÃÆ'¡lez
- Arto Saari
- Theotis Beasley
- Check Appleyard
- Ryan Sheckler
- Brian Anderson
- Silas Baxter-Neal
- Sierra Fellers
- Corey Duffel
- Brandon Westgate
- Cairo Foster
Shop
References
External links
- Official website
- Kinney Shoes History
Source of the article : Wikipedia
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