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Venator changes name to Foot Locker, reports strong sales

Published

23 years ago

August 22, 2001

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Venator Group Inc. (New York) announced positive sales and a corporatename change to Foot Locker Inc. The athletic footwear and apparelretailer said the adjusted net income from operations in the secondquarter increased to $28 million, compared with $15 million for the samequarter last year. Sales from adjusted operations were $1031 million,compared with $944 million in the year-earlier period, showing a 7.7percent increase.

During the second quarter, Venator also completed its plans to phase outits non-athletic businesses. The name change to Foot Locker Inc.reflects this repositioning strategy. Venator Group's president and ceoMatthew Serra said, “The name change better reflects our currentidentity, particularly given the completion of our planned divestitures.Foot Locker is one of the most recognizable brand names in the world.”

The retailer opened 16 stores, remodeled/relocated 55 stores and closed20 athletic stores during the second quarter. It currently operates 3600primarily mall-based retail stores in 14 countries under the brand namesFoot Locker, Lady Foot Locker, Kid's Foot Locker and Champs Sports.

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