2021-02-17 16:29:19 FL Foot Locker
02/17/21 02/1716:29 02/17/2116:29 | Foot Locker approves FY21 CapEx of $275MFoot Locker announced that its Board of Directors authorized two capital allocation initiatives which provide for both elevated investment in the organic growth of its business and an increase in its dividend. First, the Board of Directors approved a $275M capital expenditures program for 2021, compared to the approximately $155M spent in 2020. The plan for the coming year signals a return to a pre-COVID level of investment necessary to achieve its long-term strategic imperatives. A meaningful portion of funds will be invested into its digital capabilities and infrastructure, enhancement of the digital customer experience, as well as initiatives to further streamline global supply chain. The capital plan will also include investments to accelerate the company's community-based off-mall store rollout in markets across the world, as well as to elevate the customer experience in core stores. |
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