Foot Locker announced Wednesday the sneaker retailer will move its headquarters from New York City to Florida to escape the Empire State’s high costs.
“To better support our strategic progress, to increase team member collaboration, as well as ongoing expense discipline, we made the decision to relocate our headquarters to St. Petersburg, Fla.,” CEO Mary Dillon said in a statement.
Foot Locker announced Wednesday it will be moving its headquarters from New York City to St. Petersburg, Florida. AP
The company said it would maintain only a limited presence in the city moving forward.
Its sister brand, Champs, was previously headquartered in St. Petersburg.
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The move is expected to be completed by late 2025.
The city has been “a center of gravity for Foot Locker for a long time,” Dillon told Bloomberg. “There are cost efficiencies over time by doing this, but we’re going to continue to have a presence in New York to keep connections to basketball and sneaker culture.”
St. Petersburg – a city of 250,000 near Tampa – has not been a hotspot for big companies.
Miami, for example, is home to billionaires like Ken Griffin and his hedge fund Citadel.
Cathie Woods moved her firm Ark Investment Management from the Big Apple to St. Petersburg in 2021. REUTERS
But in 2021, Cathie Wood’s Ark Investment Management moved from the Big Apple to St. Pete.
She also purchased naming rights for the ARK Innovation Center – a 45,000 square-foot entrepreneurial facility– in a $2 million deal, according to St. Pete Rising, a local urban development news site.
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Foot Locker has a market capitalization of $2.8 billion. Its shares are down 4.3% so far this year.
Gray Reid has spent most of his career in basketball and sports media. He began as a student manager for the Nevada men’s basketball team, then went on to coach overseas in China and later joined the LC State men’s basketball program as a graduate assistant. After coaching, Gray joined SBLive Sports as a videographer and video editor, eventually moving into his current role as Regional Marketing Director.
As tensions escalate overseas, locals in South Florida express a complex mix of concern, hope, and fear—especially for loved ones in Israel and Iran. Community leaders and families share their perspectives on uncertainty, security, and what the future holds.
This Week in South Florida Full Episode: March 1, 2026
PEMBROKE PARK, Fla. — On the latest episode of “This Week in South Florida” host Janine Stanwood welcomes President and CEO of the Jewish Federation of Broward County Audra Berg, Secretary General of the Assembly of the Cuban Resistance Orlando Gutierrez-Boronat, Division Director of Flood Control and Water Supply Planning for the South Florida Water Management District Carolina Maran, State Rep. Juan Carlos Porras and State Rep. Kevin Chambliss.
The full episode can be seen at the top of this page.
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Janine Stanwood
Janine Stanwood is a Emmy award-winning reporter and anchor. She joined Local 10 News in February 2004 as an assignment editor.
