IS FOOT LOCKER THE KEY TO WOOLWORTH'S RESURGENCE?
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).