Foot Locker backs out of HQ move to St. Petersburg

Foot Locker, after being purchased earlier this year by Dick’s Sporting Goods, will no longer move its corporate headquarters to St. Petersburg. 

The company’s decision was disclosed to St. Petersburg City Council members Wednesday in a memo from James Corbett, the city’s development administrator.

In the memo Corbett writes that after Foot Locker’s $2.4 billion sale to the Pittsburgh retailer, the company “reevaluated its corporate strategy and decided not to move forward with relocating its global headquarters” to the city.