Foot Locker Maps Out Five-Year Plan

Foot Locker Inc. (New York) is adding merchandise to help drive revenue growth with a goal of annual revenue of $7.5 billion by 2017, reports The Wall Street Journal.

Ceo Ken Hicks announced the plans to a group of about 100 analysts and investors this week. The apparel and footwear retail is targeting sales per square foot to increase to $500 in five years, from $406 last year and $333 in 2009, according The Journal article.

Driving that growth will be the expansion of sales in four areas, including apparel, women, kids, and youth athletic teams. Each of the four segments has the opportunity to generate an additional $100 million in sales, Hicks says.

The retailer also plans to add 60 to 70 stores overall each year over the next five years, including under the Kids Foot Locker and Champs banners. Foot Locker operates more than 3000 locations in 23 countries.