St. Pete is growing into a sought after destination for companies large and small. Foot Locker plans to move its global headquarters to St. Petersburg in 2025, while maintaining a smaller presence in New York. The relocation aims to strengthen the company’s growing presence in St. Petersburg, enhance team collaboration across its various banners and functions, and reduce operational costs, according to a statement from Foot Locker.
Let’s hope Foot Locker also spearheads the addition of more basketball courts across St. Pete. We wouldn’t mind seeing a Foot Locker clinic somewhere around downtown St. Pete.
ADVERTISEMENT
In an earnings call, Foot Locker, Inc. President & CEO Mary Dillon said of the move, “What this really does is build on what already is a very meaningful commercial and executive team presence in the St. Pete market. We have a large center of gravity there already[we] have a large concentration of folks there already, and we think it’s a great place for us to continue to grow and do business and continue to attract top talent.”
Fortune 500 Company is ready to call St. Pete home
St. Petersburg Mayor Kenneth T. Welch shared, “Foot Locker’s move represents a significant corporate relocationand importantly, it’s another example of impactful and inclusive economic development in our city and the Tampa Bay region. On the heels of the generational Historic Gas Plant District project approval, St. Pete has now attracted a Fortune 500 company that will create 150+ more jobs and further diversify our workforce. Our partners who helped to secure Foot Locker share the City’s commitment to fostering a vibrant, diverse business environment.”
In the second quarter, Foot Locker reported a 1.9 percent increase in revenue, reaching $1.896 billion—aligning with analysts’ expectations. However, the company recorded a net loss of $12 million, compared to a net loss of $5 million during the same period last year.
CEO Mary Dillon expressed confidence in the company’s turnaround strategy, known as the Lace Up Plan. “Our top-line trends improved throughout the quarter, with a strong start to the Back-to-School season. We were particularly pleased to see stabilization in our Champs Sports banner,” Dillon said.
Foot Locker joins other major companies in the Sunshine City
As part of its growth strategy, Foot Locker is partnering with Nike to develop sections of its new megastores in major cities like New York City and Paris.
Foot Locker will be the third Fortune 500 headquarters based in St. Petersburg, and the fourth in Pinellas County, joining St. Petersburg’s Jabil and Raymond James, and Largo’s TD Synnex. The Tampa Bay metro area is second only to Miami in Fortune 500 headquarters in Florida. The company will be offered base and hiring incentives pending City Council approval.
Foot Locker’s move is expected to take place in late 2025. Foot Locker is working with JLL’s Location Economics Practice to identify the new headquarters site.
ADVERTISEMENT
