Foot Locker announced it will relocate its headquarters from New York City to St. Petersburg, Florida, by late 2025, citing high costs in New York and a need for greater team collaboration. CEO Mary Dillon emphasized the move's cost efficiencies while maintaining a limited presence in New York to stay connected to basketball and sneaker culture. The shift follows a trend of companies relocating to Florida, such as Ark Investment Management, which moved to St. Petersburg in 2021. Foot Locker's market value is more than $2 billion, with shares down over 4% this year.