Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Just For Feet (FEET) -- Ignore unavailable to you. Want to Upgrade?

To: lanac who wrote (565)	4/20/1998 2:59:00 PM
From: lanac	Read Replies (1) \| Respond to of 750

Just for Feet's Ruttenberg Wants to Be Biggest: Bloomberg Forum Bloomberg April 6, 1998, 2:46 p.m. PT Just for Feet's Ruttenberg Wants to Be Biggest: Bloomberg Forum Birmingham, Alabama, April 6 (Bloomberg) -- Just for Feet Inc. will add 25 of its larger-format sporting-goods stores and 30 to 35 smaller locations this year, continuing its expansion in a bid to become the largest sports-apparel retailer in the U.S. The Birmingham, Alabama-based chain has a two-pronged approach: Build 25,000-square-foot Just for Feet stores in locations like New York City's Times Square and Oklahoma City, and smaller stores under the Athletic Attic and Imperial Sports names as it grows in other metropolitan areas and smaller cities. With such expansion plans, Just for Feet intends to become more competitive with retailers like Venator Group Inc.'s Foot Locker and Champs stores, Oshman's Sporting Goods Inc. and The Sports Authority Inc. ''This country can take about 400 Just for Feet stores'' without affecting sales at its other locations, Chief Executive Harold Ruttenberg told the Bloomberg Forum. ''We have the smaller- store format going for us, which will allow us to grow forever.'' A slowdown in sales of products from Nike Inc. at other sporting-goods retailers hasn't affected Just for Feet's sales, added Ruttenberg, because his stores sell more to families and hard-core athletes rather than teenagers and young adults. 'Not as Fashion-Driven' ''We're doing slightly more business as a percentage of our business with Nike than a year ago,'' said Ruttenberg. ''We haven't seen the same slowdown with Nike as our competitors have, and I guess the reason for that is we're not as fashion-driven as they are.'' Just for Feet, the No. 3 sports-apparel retailer behind Footstar Inc.'s Footaction stores and Foot Locker, currently has 82 larger stores and 140 smaller stores. Eleven new larger stores will open in the first quarter ending April 30, and 18 by the back-to-school shopping season, Ruttenberg said. ''We want to become the dominant player in the industry,'' the CEO said. ''Within 10 years, we will pass Foot Locker.'' Just for Feet could open another 60 to 100 of smaller stores in 1999, and is about to open a new prototype location, he said. ''There are many metropolitan markets where there are corners that Athletic Attic can go that a Just for Feet can't,'' said Ruttenberg. Ruttenberg said he wasn't worried about plans by Venator Group, formerly Woolworth Corp., to spend more than $1 billion to open and remodel its sporting-goods stores. ''It's a proven fact that as we have moved across the country, we have taken market share dramatically,'' he said. ''There's absolutely no sign of anything getting in our way.'' --Chris Roush in Atlanta (404) 524-1644, through the Princeton