By  on July 31, 2007

ATLANTA — Foot Locker said it plans to strengthen its business operations with a number of initiatives that include a possible sale of the $5.75 billion specialty athletic retailer, closing about 250 U.S. stores this year, opening more stores in Europe and naming a new president for Foot Locker U.S.

The company said it had retained Lehman Brothers as an advisor to help evaluate strategic alternatives, including inquiries received from private equity firms.

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