Foot Locker announced it will relocate its headquarters from New York City to St. Petersburg, Florida, by late 2025, citing high costs in New York and a need for greater team collaboration. CEO Mary Dillon emphasized the move's cost efficiencies while maintaining a limited presence in New York to stay connected to basketball and sneaker culture. The shift follows a trend of companies relocating to Florida, such as Ark Investment Management, which moved to St. Petersburg in 2021. Foot Locker's market value is more than $2 billion, with shares down over 4% this year.
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00:00It's Benzinga, and here's what's on the block.
00:02Foot Locker announced it will relocate its headquarters from New York City to St. Petersburg,
00:06Florida by late 2025, citing high costs in New York and a need for a greater team collaboration.
00:12CEO Mary Dillon emphasized the move's cost efficiencies while maintaining a limited presence
00:17in New York to stay connected to basketball and sneaker culture.
00:20The shift follows a trend of companies relocating to Florida, such as Ark Investment Management,
00:25which moved to St. Petersburg in 2021.
00:28Foot Locker's market value stands at more than $2 billion, with shares down over 4 percent
00:32this year.
00:33For all things money, visit Benzinga.com.