Foot Locker To Close 250 Stores; Shuffles Top Execs
Plans to open up to 30 new stores in Europe in 2008 are still on track.
The company also says it will promote Keith Daly, currently president and CEO of Foot Locker Europe, to president and CEO of Foot Locker U.S. with responsibility for the company's Foot Locker, Footaction and Kids Foot Locker stores in the U.S. He will be replaced by Dick Johnson, president and CEO of Footlocker.com.
Foot Locker, which was rebuffed in its takeover offer for Genesco earlier this spring, also confirmed that it has hired Lehman Brothers as an advisor to work with the company to evaluate "strategic alternatives."
In May, the company said it expects to open up to 50 "House of Hoops by Foot Locker" with Nike Inc., in the next three years. The first House of Hoops store is expected to open in early 2008 on 125th Street in New York, converting an existing Foot Locker location in Harlem.
--Sarah Mahoney
Recent Marketing Daily Articles
-
Champs Taps Westbrook For Ad Push May 17, 4:52 p.m.
When it comes to a spokesperson deal, if you’re a star athlete you don’t necessarily have ... -
Strategic Vision: Domestics Strong Showing In Quality May 17, 4:47 p.m.
For several years there's been convergence in the automotive market. No, we're not speaking of integrated ... -
Athenos Unleashes 'Cooking With Yiayia' Campaign May 17, 9:48 a.m.
Julia Child she isn’t, but Yiayia brings her own, trademark irascible appeal to a new series ... -
Gen Y's Favorites: JCPenney, Target, Walmart, Kohl's May 17, 9:07 a.m.
For all of Gen Y’s ballyhooed love of techno-shopping, it turns out retailers have little to ... -
Hanes Aims Destruction Videos At Gen Y May 16, 11:25 p.m.
In an effort to encourage Millennial men to slip into its new ComfortBlend socks, tee shirts ... -
FirstBank Expands Ad Campaign May 16, 11:11 p.m.
FirstBank is extending its TV advertising for the first time outside of its home state of ... -
Jennie-O Partners With 'Recipe Rehab' May 16, 1:07 p.m.
Jennie-O products are being featured in integrations in the popular “Recipe Rehab” show, and in a ... -
2 Audiences, 2 Approaches For Samsung Monitors May 16, 12:27 p.m.
When we get consumers to shell out money for high-end computer monitors, it’s important to give ... -
Meaty: Whole Foods, Smithfield Talk Healthier Hogs May 16, 6:24 a.m.
Looks like meat marketing is stepping center stage. Whole Foods Markets, in celebration of Animal Welfare ... -
Hyundai Says Everything's Gonna Be All Right May 15, 11:40 p.m.
Every little thing gonna be all right. Especially if you have car trouble. Hyundai Motor America ...
Be the first to comment on "Foot Locker To Close 250 Stores; Shuffles Top Execs "
Leave a Comment