The board of directors of Foot Locker, which has been faring well financially, has approved a $220 million investment program for the current year. That is far more than the $163 million spent last year. The money will be invested in various fields of expansion such as the development and roll-out of innovative new retail formats and ongoing global expansion, notably in Europe. The athletic footwear and apparel chain is also seeking to implement new technologies and systems for its buyers and planners as well as new types of customer experience. In addition, the board decided on an 11 percent increase in quarterly cash dividends and a on increase in the amount available for share buybacks from $400 million to $600 million worth of shares for the next three years. Foot Locker ended the third quarter of its financial year with a cash pile of $853 million.  

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