Foot Locker, Inc. (FL) Announces Plan To Expand Business

Foot Locker, Inc. (NYSE: FL), the athletic shoe retailer, announced on Tuesday that it plans to expand its business by diversifying its demography, expanding internationally, and making acquisitions.

The company has set a sales target of $6 billion over the next five years. The company had sales of $4.85 billion in 2009. The plan was announced by CEO Ken Hicks at an investor conference held the company’s headquarter in New York.

Foot Locker currently operates from 3,500 stores around the globe. The company has been aggressively closing down underperforming stores, and consolidating operations to cut costs.