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Foot Locker Plans Bigger Footprint

Athletic apparel retailer announces capital expenditures plans for 2013

Published

11 years ago

February 21, 2013

eric.caoili

Foot Locker Inc. (New York) has announced plans to step up its capital expenditures program in 2013, investing in “new and innovative store formats; continued expansion in Europe; more sophisticated systems for its buyers and planners; technology to improve its customers' experience; and robust capabilities for its digital segment.”

The specialty athletic retailer’s board of directors approved $220 million for the program.

“By taking these actions, our board has expressed its confidence that Foot Locker Inc. has the financial strength to simultaneously invest in the company's growth opportunities and return cash directly to shareholders through a balanced approach to dividends and share repurchases,” said chairman and ceo Ken Hicks.

Foot Locker operates 3,335 stores in 23 countries in North America, Europe, Australia and New Zealand, through the Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker, Champs Sports and CCS retail banners.

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