F.W. Woolworth Company

Foot Locker Inc {{NYSE|FL}} (formerly Z) ) is a United States company specialising in athletic footwear and clothing.

Transition to Foot Locker, Inc.

Woolworth in 1974 opened its first Foot Locker store in City of Industry, California, which established a change which would lead a transition which would eventually become its current Foot Locker, Inc. title in 2001.

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By the mid-1980's, Woolworth had become an established name in the sporting goods industry with Foot Locker, acquired Champs Sports in 1987, establishing its future in the athletic market. In 1989, Woolworth opened its first Foot Locker in Australia and acquired Profoot in the Benelux region and renaming them Foot Locker.

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By 1993, Woolworth changed the comapany's focus into its strengths, the Foot Locker division, with the Foot Locker and Champs Sports stores. This transition led the the acquisition of mail-order sporting goods retailer Eastbay in 1996.

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On July 17, 1997, the transition was completed as Woolworth closed the remaining 400 of its F.W. Woolworth five-and-ten-cent stores, and changed its name to Venator, to focus on its sportswear. Analysts at the time cited the lower prices of the big discount stores and the expansion of grocery stores to carry most of the items five-and-ten-cent stores carried as factors in the stores' lack of success in the late 20th century. Coincidentally, in that same year Wal-Mart replaced Venator on the Dow Jones Industrial Average.

Related Topics:
July 17 - 1997 - Dow Jones Industrial Average

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In 1999, Venator moved out of the Woolworth building to offices on 34th Street. On October 20, 2001, the company changed names again; this time, it took the name of its top retail performer and became Foot Locker, Inc., with specialisation in athletic clothing and footwear.

Related Topics:
October 20 - 2001 - Foot Locker

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In 2004, Foot Locker acquired the Footaction athletic store chain.

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