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IS FOOT LOCKER THE KEY TO WOOLWORTH'S RESURGENCE?
Published May 17, 1995
In their corporate close-up, this week's ADVERTISING AGE examines Woolworth, a "struggling retailer" which is "relying on a newly recruited outside management lineup and the strength of its specialty stores to boost sagging revenues." A focus of that strategy is to "concentrate on it most prized possession," its athletic footwear division including Foot Locker and Champs Sports -- instead of focusing on the Woolworth "core stores." Woolworth's Athletic Footwear and Apparel division consists of all Foot Locker stores, Champs Sports, Athletic X-Press, and Going to the Game!, and is headed by William DeVries. Woolworth is said to spend close to $20M of its ad budget on its Foot Locker chain. Several analysts feel that Foot Locker "has the greatest potential" for Woolworth, as the athletic shoe market will continue to be strong. Jeffrey Hill, Managing Director at Meridian Consulting Group: "Their Foot Locker (group of stores) represents a tremendous opportunity for continued growth" (Leah Rickard, AD AGE, 5/15 issue).