The e-retailer reports a $126 million net loss, stemming from a $640 million year-over-year increase in spending in the quarter on technology and content ...
In August, Ken C. Hicks will become president and CEO of Foot Locker, No. 53 in the Internet Retailer Top 500 Guide. He previously was president and chief merchandising officer at J.C. Penney (No. 15) and president of Payless ShoeSource (No. 302).
Foot Locker Inc.’s board of directors has elected Ken C. Hicks to become the multichannel retailer’s president and CEO effective August 17. The board also elected him a member of the board of directors as of the same date.
Hicks will succeed Matthew D. Serra, Foot Locker’s CEO since March 2001 and chairman of the board since February 2004. Serra will continue as chairman until his planned retirement at the end of the company’s current fiscal year, January 30, 2010. Serra will also retire on that date from the board of directors of Foot Locker, No. 53 in the Internet Retailer Top 500 Guide.
“I am very pleased that Foot Locker has been able to recruit a seasoned retail executive of Ken’s stature and experience to become the next CEO,” Serra says. “I look forward to working with him in the coming months to help ensure a smooth and effective transition.”
Since 2005, Hicks has been president and chief merchandising officer at J.C. Penney Co. Inc., No. 15 in the Internet Retailer Top 500 Guide, and a member of the retailer’s board since 2008. From 2002 to 2004 he was J.C. Penney’s president and chief operating officer of stores and merchandise operations. Prior to joining J.C. Penney, Hicks was president of Payless ShoeSource Inc., No. 302 in the Internet Retailer Top 500 Guide.