Foot Locker gets a new strategic plan

NEW YORK Ken Hicks, chairman and CEO of Foot Locker, has announced a new strategic plan for the company.

"Foot Locker is a recognized leader in specialty athletic retailing, with a portfolio of well-known brands and banners.  The company has a strong financial position and many high potential opportunities to increase its sales and profits, both in United States and international markets," stated Hicks.  "Our senior management team undertook a process over the past several months to thoroughly understand our position in the marketplace today and to develop strategic priorities for the future.  In doing this, we established a clear strategic vision: to be the leading global retailer of athletically inspired shoes and apparel."  

Priorities in Foot Locker's strategic plan include being the power merchandiser of athletic shoes and apparel, developing a compelling apparel assortment, improving the in-store and online shopping experience, pursuing growth opportunities, increasing asset productivity and building its retail team.

Over the next five years, the company said it expects to achieve: sales of $6 billion and a net income margin of 5%.