Athletic footwear and apparel giant Foot Locker, Inc. has named Ken C. Hicks as its new president and ceo. Hicks had served as president and chief merchandising officer of J.C. Penney since 2005. In 2008, he was joined the fashion retailer’s board of directors. The 56-year-old Hicks also knows the shoe business, thanks to a stint as president of Payless ShoeSource Inc. (now Collective Brands, Inc.).
He takes over from Matthew Serra, who is retiring after eight years as Foot Locker's ceo. Serra, 64, will continue as chairman of the board until the end of the fiscal year, January 30, 2010. The leadership transition and Hicks’ inclusion on the board of directors for the 3,600-store become effective August 17.
Headquartered in New York, Foot Locker currently operates in 21 countries with a brand family that includes Foot Locker, Footaction, Lady Foot Locker, Kids Foot Locker and Champs Stores. It also has direct-to-customer Internet and catalog channels. First quarter sales of $31 million reflected a 7.1 percent year-over-year decrease, with comparable-store sales down 2.4 percent.