Foot Locker History
1963. F.W. Woolworth purchased the Kinney Shoe Corporation and operated it as a subsidiary.
1974. Kinney opened the first Foot Lockerin Industry, CA.
1980s & 1990s. The F.W. Woolworth Company's flagship department store chain fell into decline.
Woolworth changed its corporate name to Venator and Foot Locker became the company's top performing line.
2001. The corporation changed its name to Foot Locker.
2012.Foot Locker celebrated the 100th anniversary of the first stock offering made by Woolworth.
Who Started Foot Locker?
Yes, Foot Locker was once under the Woolworth umbrella.
it all started in 1963 when F.W. (Frank Winfield) Woolworth purchased the Kinney Shoe Corporation. Eventually, Kinney got into speciality shoe stores. But, it wasn't until 1975 that Foot Locker was actually launched!
You might say that F.W. (Frank Winfield) Woolworth is the founder of 'five and dimes'. He was born on a NY farm back in 1852. His first five cent store opened in Utica, New York. That store wasn't so successful. Woolworth blamed it on the location. So, he moved the store to Lancaster, Pa. and from there, well, the rest is history.
Does Foot Locker Sell...
Today, Foot Locker operates around 3,220 stores in 27 countries. Sales reportedly topped 10 billion and it's headquarters is in New York City.
Related. Jim Cramer says: "I like Foot Locker but I like Nike even more." Read his 'Mad Money' Lightning Round here.