Origins and Early Development

The company's roots begin with the F. W. Woolworth Company, founded in 1879 by Frank Winfield Woolworth. In 1963, Woolworth acquired Kinney Shoe Corporation, which later launched the Foot Locker brand in 1974 as a specialty athletic footwear store. The first Foot Locker opened on September 12, 1974, in the Puente Hills Mall in City of Industry, California. Investopedia+4Encyclopedia.com+4Wikipedia+4Wikipedia+2Cascade+2Wikipedia+2Wikipedia+1Cascade+1

Corporate Evolution

As Woolworth's traditional five-and-dime stores declined, the company shifted focus to its specialty retail divisions. In 1998, Woolworth rebranded as Venator Group, and in 2001, it adopted the name Foot Locker, Inc., reflecting its most successful brand. Wikipedia+3Wikipedia+3Wikipedia+3

Expansion and Acquisitions

Foot Locker expanded its portfolio through strategic acquisitions, including:

• Champs Sports: A retailer focusing on athletic footwear and apparel.Cascade

• WSS: Acquired in 2021, known for serving urban and Latino communities. Wikipedia+1Investopedia+1

• atmos: A Japanese retailer specializing in streetwear and sneakers, also acquired in 2021. Investopedia

• GOAT Group: In 2019, Foot Locker invested $100 million in this online sneaker resale platform, expanding its digital presence. Wikipedia+1Wikipedia+1

Recent Developments

As of 2023, Foot Locker operated over 2,500 stores worldwide. However, facing challenges in the retail landscape, the company announced plans to close approximately 400 underperforming stores by 2026. Wikipedia

In May 2025, Dick's Sporting Goods announced its intention to acquire Foot Locker, Inc. for $2.4 billion, aiming to enhance its global footprint in the athletic retail market. Wikipedia+1Indiatimes+1