Why Foot Locker Is In A Sweat

Woolworth's big bet on athletic footwear is souring

To find out why things aren't going too well in the executive suite atop the fabled Woolworth Building in lower Manhattan, take the elevator down to the ground floor. There you'll find an outlet of Foot Locker, the sports shoe chain that's supposed to be Woolworth Corp.'s salvation. A hip young man has just decided against buying the latest Nikes and is walking out empty-handed. "I can't spend that much," he says. "Besides, there's not enough selection or atmosphere."

To continue reading this article you must be a Bloomberg Professional Service Subscriber.