NEW YORK -- Foot Locker Inc. will rejigger its executive ranks this summer in moves designed to bolster its bifurcated business that will also see it name a new chief financial officer.
Foot Locker's growing online business will now report directly to Chairman and Chief Executive Ken Hicks, giving him a larger role in that division's future. All of its roughly 3,400 retail stores in 22 countries will be consolidated under the leadership of Richard A. Johnson, who currently serves as the president and CEO of several of its brands in the U.S.
Current CFO Robert McHugh will assume the newly created position of executive vice president of operations and support, in charge of Foot Locker's information systems, technology, real estate and logistics, among other duties. He will be replaced by Lauren Peters, who previously was its senior vice president of strategic planning.
The changes, which will take effect July 1, "enable us to strengthen our brands and put more emphasis on our high potential growth areas of [dot-com] and international development," Hicks said in a statement. A Foot Locker spokesman declined to comment beyond the press release.
During the recession, Foot Locker's revenue from its stores decreased sharply, and even after rebounding somewhat during the fiscal year ended in January, the stores still posted sales that were nearly 5% below those of two years earlier.
Between January 2009 and this January, however, online sales grew steadily to $432 million from $390 million. Operating income for its online business, however, fell to $30 million, including a $10 million write-down of its CCS brand, from $43 million two years earlier.
Foot Locker's growing online business will now report directly to Chairman and Chief Executive Ken Hicks, giving him a larger role in that division's future. All of its roughly 3,400 retail stores in 22 countries will be consolidated under the leadership of Richard A. Johnson, who currently serves as the president and CEO of several of its brands in the U.S.
Current CFO Robert McHugh will assume the newly created position of executive vice president of operations and support, in charge of Foot Locker's information systems, technology, real estate and logistics, among other duties. He will be replaced by Lauren Peters, who previously was its senior vice president of strategic planning.
The changes, which will take effect July 1, "enable us to strengthen our brands and put more emphasis on our high potential growth areas of [dot-com] and international development," Hicks said in a statement. A Foot Locker spokesman declined to comment beyond the press release.
During the recession, Foot Locker's revenue from its stores decreased sharply, and even after rebounding somewhat during the fiscal year ended in January, the stores still posted sales that were nearly 5% below those of two years earlier.
Between January 2009 and this January, however, online sales grew steadily to $432 million from $390 million. Operating income for its online business, however, fell to $30 million, including a $10 million write-down of its CCS brand, from $43 million two years earlier.
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