Foot Locker to close 400 under-performing stores and 125 Champs Sports

is taking steps to close 400 low-performing stores by 2026 and 125 of its Champs Sports locations this year, officials announced Monday.The company unveiled the closures during its Investor Day and officials said they plan to focus on higher-performing locations as part of its “Lace Up” plan.

The closing stores are in 200 C/D malls and 200 lower-performing A/B malls, said Tony Aversa, senior vice president of store development.The company also plans to open new hundreds of new concept stores, increasing those locations from around 120 to 400-plus stores by 2026, Aversa said.

In recent years, Nike had reduced the number of traditional retailers and websites it allowed to sell its products and shifted more to a direct-to-consumer strategy. “We've reestablished joint planning, as well as data and insight sharing so that we can better serve customers and the fruits of our renewed commitment to one another will begin to show up and holiday this year,” said Dillon, who joined the company in September.

Chris Santaella, Foot Locker’s chief merchandising officer, said Monday that the company plans to feature more LeBron James and Kevin Durant retro Nike shoes for the holiday season.

Source: News Formal (newsformal.com)

All the merch being stolen? Much of it stolen by employees that resell it. Sad times!!

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