Florida
Another exit: Foot Locker to relocate headquarters from New York to Florida
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Foot Locker is relocating its headquarters to Florida from New York.
The footwear retailer said Wednesday the city of St. Petersburg will become its new corporate headquarters come late 2025.
Foot Locker said it was seeking to “further build on the Company’s meaningful presence in St. Petersburg and to enable increased collaboration among teams across banners and functions, while also reducing costs.”
Foot Locker is relocating its headquarters to Florida from New York. (Artur Widak/NurPhoto via Getty Images / Getty Images)
The retailer already has a “very meaningful commercial and executive team presence” in St. Petersburg, according to CEO Mary Dillon. The company won’t be requiring relocation for workers, she told analysts and investors.
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“Historically, that was originally the headquarters of Champs Sporting Goods,” Dillon also told analysts and investors. “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.”
Meanwhile, Foot Locker’s corporate presence in New York City will be “limited” in the future.
Dillon said the HQ relocation to the Sunshine State was “going to continue to give us better opportunities, both for further collaboration across the business and there’s some financial benefits over time as well.”
Foot Locker’s corporate presence in New York City will be “limited” in the future. (Justin Sullivan/Getty Images / Getty Images)
Foot Locker linked the corporate move to an effort to “further support strategic progress” of its “Lace Up Plan.”
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The “Lace Up Plan,” which kicked off in March, includes initiatives like new store formats, moving away from mall stores, revamping its loyalty program and leaning more into digital to improve Foot Locker’s growth.
The footwear retailer has the launch of a Global Technology Services Hub in Dallas, Texas, slated for next month in a move separate from the headquarters relocation. Dillon said the site will “be a key enabler of our technology infrastructure modernization under Lace Up.”
Foot Locker linked the corporate move to an effort to “further support strategic progress” of its “Lace Up Plan.” (Christinne Muschi/Bloomberg via Getty Images / Getty Images)
Foot Locker’s planned move from New York to Florida will make it the latest company to move its headquarters out of the Empire State.
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Some others include Icahn Capital Management in 2020 and ARK Investment Management in 2021.
The footwear retailer’s market capitalization hovered around $2.79 billion on Wednesday afternoon after releasing its second-quarter results earlier in the day.
The nation’s leading exterior home remodeler continues market expansion, opens its 22nd U.S. location
CHESTER, Pa., August 29, 2024–(BUSINESS WIRE)–Power Home Remodeling (“POWER”), the nation’s leading exterior home remodeler, and the Fortune #14 Best Company to Work For has expanded into Orlando, Florida. This marks the company’s 22nd office location in the country.
This new office comes on the heels of the company’s recent launch in Fort Lauderdale. Orlando is now POWER’s third location in the Sunshine State after servicing the Florida market since 2017, specifically in its established Tampa territory. POWER has studied the many unique aspects of the Florida market and refined its processes to better serve the community.
POWER has signed a 29,745 square-foot lease at 6923 Lee Vista Boulevard, which is outfitted with a warehouse space occupying 10,309 square feet. Homeowners in the greater Orlando area, from Ocala all the way down to Vero Beach, can expect product offerings such as windows, roofing, gutters, doors, and attic insulation. All offerings meet Florida’s product specifications so that POWER can service both impact and non-impact areas. POWER’s goal is to be able to fully service Florida customers with the safest product and installation.
Adi Kukuljac, Vice President of Customer Development; Miguel Valentin IV, Vice President of Sales; and TJ Capo, Vice President of Project Services will lead the Orlando office.
“We are incredibly excited to expand our Florida footprint and bring a new level of service and commitment to homeowners across Orlando,” said co-CEO Asher Raphael. “Our talented, tenured Orlando team trained under the tutelage of our Tampa and Ft. Lauderdale offices, who have spent the last seven years learning the intricacies of the Florida market in order to better serve the local community.”
POWER’s reputation as one of the most trusted home remodeling companies in the country spans over 30 years and one million lifetime customers. As an A+ accredited business with the Better Business Bureau, #1 on the 2023 Fortune Best Companies in Construction, and a PEOPLE Magazine Company That Cares, POWER is setting a new standard for how companies behave.
As part of POWER’s commitment to the trades, non-installation employees are trained with the construction skills needed to complete installations through the company’s Dan Price Craftsmanship Academy. The Craftsman program allows POWER to set a new standard for install expectations in the remodeling industry. While the program matures, the Orlando office will open with two Craftsman crews alongside local installation partners.
The company’s robust expansion model includes opening two new offices in major U.S. cities each year to support its rapid growth. POWER is actively looking for installation partners to join the team, and will be hiring for additional in-field roles in the near future.
For those looking for a fulfilling career opportunity, visit powerhrg.com/careers/ to view open positions across POWER’s 22 territories nationwide.
About Power Home Remodeling
POWER is the nation’s largest, full-service, exterior home remodeler with more than 3,800 employees, over one million lifetime customers, and $1.25 billion in annual revenue. Established in 1992 and headquartered in the Philadelphia region, POWER’s primary product line includes windows, siding, roofing, gutters, doors, solar roofing panels, and attic insulation, providing energy-saving solutions to residents across its operating territories, including Arizona, Colorado, Connecticut, Delaware, Florida, Georgia, Indiana, Illinois, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Wisconsin. At POWER, we believe that every home, person, and community has potential, and everything we do is in service of bringing that potential to life. That belief led us to create Power for Good which amplifies the vision and voices of our people to drive our philanthropic efforts. Learn how Our Work Shows at www.powerhrg.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240829717016/en/
Contacts
Chellsy Mysza
chellsy.mysza@powerhrg.com
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.
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.
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.
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.
Foot Locker has a market capitalization of $2.8 billion. Its shares are down 4.3% so far this year.
Central Florida will continue to see a typical summer storm pattern on Wednesday.
Our area will see a chance of coastal showers in the morning and hit-or-miss storms inland in the afternoon.
Most of the rain and storm activity will be west of Orlando in the mid to late afternoon.
Read: Massive Wyld Oaks project in Apopka reveals new renderings, ‘dog park to rival all dog parks’
Our heat index will also reach around 100 degrees before the afternoon storms begin.
The summer storm pattern will continue for the rest of the week.
Read: ‘It’s extremely concerning’: Animal advocates raise concerns about Seminole County Animal Services
Follow our Severe Weather team on X for live updates:
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