Foot Locker won’t relocate its headquarters to Florida after all.
The company reevaluated its previous decision to move its base to St. Petersburg, Florida, after it was acquired by Dick’s Sporting Goods, per a Wednesday memo City Development Administrator James Corbett sent to the city council.
Foot Locker’s current headquarters is in New York, though it is unclear if the retailer’s headquarters will remain there or move to a different location. Foot Locker and Dick’s Sporting Goods did not immediately respond to requests for comment.
“Following the acquisition, the company reevaluated its corporate strategy and decided not to move forward with relocating its global headquarters to St. Petersburg,” Corbett said in the memo.
No fiscal impact to the city is expected. However, the move was anticipated to create about 230 direct and indirect jobs for the city, per a council meeting recording from Oct. 3, 2024.
Foot Locker was expected to receive an incentive package of up to $475,000 and a tax exemption, according to a city council agenda package from the same month.
The retailer announced its intent to switch its corporate headquarters from New York City to St. Petersburg, Florida, on an earnings call in August 2024. The move was meant to reduce costs and take place in late 2025.
However, in May this year, Foot Locker announced it would be acquired by Dick’s Sporting Goods in a $2.4 billion deal. The transaction was completed in September, with several new executive switch-ups announced.
Former Foot Locker CEO Mary Dillon had been the one to share the news about Foot Locker’s intent to move to Florida in 2024. However, she is no longer at the company following the completion of its sale a few months ago.