Foot Locker reported a stronger-than-expected fourth quarter and unveiled a new plan to move the company forward that includes an increased focus on its core banners and a shift in its real estate strategy.
As part of its new “Lace Up” plan, the athletic footwear giant said it is relaunching its Foot Locker brand and transforming its real estate footprint by shifting to off-mall locations and opening new formats. It also is closing some 400 underperforming stores. In recent years, Foot Locker has debuted several new concepts, including its community-oriented “power” store concept and Kids Foot Locker’s “house of play” concept.
In addition, the retailer will seek to create more distinction among its banners and “reset” its customer loyalty plan and elevate the customer relationship through enhanced analytical capabilities.Chain Storeage