Foot Locker plans to shut 400 stores by 2026 as it strives to become more relevant to younger shoppers by relaunching its retail brands, introducing 'experiential' new store concepts and simplifying operations.
Foot Locker is planning to shut 400 stores by 2026 as it strives to become more relevant to younger shoppers by relaunching its retail brands, introducing “experiential” new store concepts and simplifying its operations by closing underperforming mall-based stores. The stores slotted for closing across North America account for nearly 10% of Foot Locker’s total sales, said Anthony Aversa, Foot Locker senior vice president of store development.
They include the sneaker maven, or sneaker-obsessed shoppers who represent themselves through their shoes; the fashion-forward expressionist who want to look and feel cool and rely on their sneakers to deliver that feeling; the athlete searching for high performance sneakers; shoppers who prioritize quality and comfort; and, finally, the deal-hunters.
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