Foot Locker, now operating under the ownership of Dick’s Sporting Goods is preparing to shut down hundreds of stores nationwide as part of a major long-term restructuring plan. Dick’s says the move is necessary to keep the brand competitive and profitable in a retail landscape that’s rapidly shifting toward online shopping and high-traffic standalone locations.
The majority of closures will target older mall locations, many of which have struggled for years due to declining foot traffic, rising rents, and the overall downturn of traditional shopping malls. Foot Locker plans to focus more on updated, modernized storefronts; community-driven “power stores”; and stronger digital commerce to keep pace with today’s sneaker and streetwear market.
While the closures mark a significant shake-up, executives insist the strategy is designed to stabilize the brand, streamline operations, and position Foot Locker for long-term growth in a retail world that’s changing faster than ever.
Drop back in on Bulletproof Radio for more information on your favorite shoe pick up spot closes doors under new partnership.
Photo Getty Images