The Athlete's Foot Signs International Franchise Agreement for Central and South America

ATLANTA, GEORGIA - (February 13, 1999) -- The Athlete's Foot has signed a franchise agreement with Dominican Republic-based Sportec, S.A. for six countries including El Salvador, Guatemala, Honduras, Nicaragua, Puerto Rico and Venezuela. The agreement calls for a minimum of 42 stores to be opened in the next six years. Sportec, S.A. currently operates two The Athlete's Foot stores and has three in development in the Dominican Republic.

"This is the largest international franchise deal in the company's history," said Robert Corliss, president and CEO of The Athlete's Foot. "While the US is more of a mature market, international opportunities for The Athlete's Foot continue to evolve. The Athlete's Foot concept translates well in international markets as we cater to those customers that appreciate a technical resource for athletic footwear combined with an understanding of the American athleisure lifestyle."

This agreement is part of The Athlete's Foot overall growth strategy to increase the number of international stores by 40 percent this year, according to Corliss. Domestic growth for the year is planned at 100 stores in North America. Additionally, The Athlete's Foot will introduce a prototype store in Atlanta this year.

The Athlete's Foot is a privately owned international athletic footwear retailer, operating more than 700 corporate and franchise stores in 40 plus countries. The Atlanta-based company is the only retailer that operates its own independent research and testing facility, which evaluates every major athletic shoe brand for construction, durability and performance. The Athlete's Foot was named Success magazine's number one Franchise Opportunity for 1997.