Nike, Foot Locker to open stores

Nike Inc. and Foot Locker Inc. said they would open as many as 50 House of Hoops stores in the U.S. in the next three years as they seek to boost flagging sales of basketball shoes.

Most of the stores will be converted Foot Locker locations, the companies said. Stores are planned in Los Angeles, Las Vegas, Chicago, Houston and New York.

New York-based Foot Locker and Beaverton, Ore.-based Nike are trying to spur sales of high-end basketball apparel at urban, non-mall stores as customers buy more general-use sneakers instead of shoes geared for specific sports.