Essay on Foot Locker, Inc - 8899 Words

Foot Locker, Inc. 1 Running Head: FOOT LOCKER, INC. A Strategic Analysis of Foot Locker, Inc. Richard A. Sweeney A Senior Thesis submitted in partial fulfillment of the requirements for graduation in the Honors Program Liberty University Spring 2009 Foot Locker, Inc. 2 Acceptance of Senior Honors Thesis This Senior Honors Thesis is accepted in partial fulfillment of the requirements for graduation from the Honors Program of Liberty University. __________________________ Paul E. Young, Ph.D. Thesis Chair __________________________ Edward M. Moore, Ph.D. Committee Member __________________________ Kendrick W. Brunson, A.B.D. Committee Member __________________________ Marilyn L. Gadomski, Ph.D. Assistant Honors†¦show more content†¦The entrance into the twentieth century proved to be promising for Woolworth when, in 1905, he incorporated as F.W. Woolworth Co. with $10 million in sales and 120 stores. For the remaining years after, until his death in April of 1919, Woolworth guided the company through prosperous times and â€Å"by the company’s 50th anniversary in 1929, there were 2,247 Woolworth stores in the United States, Canada, Cuba, England, and Germany† (para. 16) with sales over $300 million annually (Funding Universe, 2005). After growing accustomed to the shallow pockets of consumers during the Great Depression and the Second World War, Woolworth Co. failed to take advantage of the growing prosperity being experienced by consumers during the post-war era. According to Funding Universe (2005), â€Å"It was keeping costs down and prices low at a time when customers wanted service and when prosperity made prices a secondary consideration† (para. 19). Although the company recognized the need for change, Woolworth Co struggled for many years to keep pace with the growth trends of its competitors. In 1974, the company had a spark of success when the first Foot Locker stores opened, which would later prove to be very profitable. However, by the mid-1990s, the company had severe cash flow problems (Funding Universe, 2005). â€Å"Thanks to dwindling profits, by early 1995, the company was nearly out of cash, and short-term debt had swelled to $853 million† (para. 38). As the new chief executiveShow MoreRelatedEssay about Finish Line and Foot Locker1175 Words   |  5 Pages †¢ Company Description o Finish Line, Inc. is the second largest leader athletic based company in the United States. The company was founded in 1976 and now operates over 600 stores in 48 states. Finish Line is the franchise company of the Athlete’s Foot in Indianapolis, Indiana. By 1981, the company expanded beyond the 10 franchises they owned. 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