Foot Locker announced it will relocate its global headquarters from New York City to St. Petersburg, Florida, by late 2025 to support strategic progress, increase team collaboration, and reduce costs. The move is part of the company's 'Lace Up Plan' which includes closing underperforming stores and launching new retail concepts. St. Petersburg leaders believe this relocation, influenced by the redevelopment of the Historic Gas Plant District, will attract more high-profile corporations and jobs. The relocation is expected to create over 150 jobs and is seen as a major corporate win for the city. Foot Locker will maintain a limited presence in New York to stay connected to its basketball and sneaker culture. The move underscores a trend of corporations leaving high-cost cities for more business-friendly environments.