Foot Locker is planning to close 400 stores by 2026 as part of a "reset" of its retail brand. The relaunch could also introduce "experiential" new stores and shifting away from underperforming stores in malls, which currently account for 10 percent of its sales.
"We are entering 2023 with a focus on resetting the business – simplifying our operations and investing in our core banners and capabilities to position the Company for growth in 2024 and beyond," Mary Dillon, president and chief executive officer, told investors.
The company is calling the relaunch its "Lace Up" plan and entails a mix of rebranding, updated loyalty programs, expanded omnichannel options, and closing underperforming stores.
Foot Locker is also closing 125 underperforming Champs Sports stores.
"We are proud of Foot Locker's role in influencing and serving the global sneaker community, and next year, we will celebrate the 50th anniversary of the iconic Foot Locker brand," Dillion said. "We are incredibly excited to introduce our 'Lace Up' plan with a new set of strategic imperatives and financial objectives that are designed to set us up for success for the next 50 years."
Dena Jalbert, Head of M&A at Align Advisory, discusses the state of mergers and acquisitions in 2025 and beyond, highlighting key trends and opportunities.
Kim Perell, author and entrepreneur, shares actionable tips and tricks to help current and aspiring entrepreneurs kick off 2026 with confidence and momentum.
Emera CEO Scott Balfour discusses soaring energy demand, AI-driven grid challenges, clean-power investments, and how the company is building a resilient future.
JB Mackenzie discusses Robinhood’s new entertainment prediction markets, letting users engage with pop culture, award shows, and more through low-stakes bets.
Rhett Power shares his startup journey, lessons from his early years and insights from his book on overcoming negative self-talk to lead with confidence.
Despite inflation, Americans aren’t giving up the gym. Crunch Fitness CEO Jim Rowley discusses strong growth, value-driven expansion and what the future holds.
Home prices far outpacing incomes, low inventory, and higher living costs are reshaping the market. WSJ’s Veronica Dagher breaks down the challenges ahead.
As commercial options tighten, more travelers are turning to private aviation. Wheels Up CEO George Mattson breaks down capacity and demand challenges.
Layoffs, hiring slowdowns, and shifting skill demands dominate this year’s job talk. LinkedIn’s Kory Kantenga explains what workers should watch for next.
