Athletic shoe retailer Foot Locker is relocating its headquarters to St. Petersburg, Florida later next year, reports WFTV.

Foot Locker’s President and CEO Mary Dillon said that the company already has a large presence in the St. Petersburg market and they “think it’s a great place for us to continue to grow, do business, and attract top talent.”

Other operational moves the company is making include “plans to shutter its stores and e-commerce sites in South Korea, Denmark, Norway, and Sweden by mid-2025. Foot Locker is also transferring ownership of its Greece and Romania operations to licensing business Fourlis Group. All told, the actions will close or transfer ownership of 30 stores,” reports RetailDive.com

RetailDive reported that moving the headquarters to Florida is another method of reducing costs, though President and CEO Mary Dillon said on an earnings call that the company already has a large employee workforce there thanks in part to (subsidiary) Champs Sports’ former headquarters being located in the area. She noted that the retailer will still maintain a presence in New York and will not force employees to relocate, which should enable it to keep its current team.