Foot Locker will be closing about 400 stores by 2026, the company announced.
The recognizable retail brand will be having a smaller footprint in some shopping malls, as it plans to close underperforming stores.
The company wants to reimagine its brand and become more relevant to younger shoppers, especially "sneakerheads".The company says its new store and marketing concept is called "lace up," which will focus on different types of sneaker shoppers.
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Foot Locker to close 400 stores by 2026Foot Locker's decision to shut down 400 retail locations follows sales declining 0.3% in the fourth quarter of 2022, and is part of the company's new 'Lace Up' business strategy.
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Foot Locker to close about 400 stores by 2026 as company decreases shopping mall presenceFoot Locker will be closing about 400 stores by 2026, the company announced.
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Foot Locker is closing 400 stores by 2026 | CNN BusinessFoot 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.
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Foot Locker to close 400 under-performing stores and 125 Champs SportsThe company also plans to open new hundreds of new concept stores.
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