![]() "These are the fastest-growing consumer segments in the US and are rapidly expanding in their purchase power," she said. She said younger and more diverse customers are a strategic advantage for the company. "We are not going back to less comfort in our lives. "These positionings will drive everything we do, including real estate site selection, product merchandising, omni marketing and, of course, great customer service," said Bracken.įoot Locker CEO Mary Dillon told analysts she thinks hybrid work is here to stay and it's fueling the strength and longevity in casual dressing. They include the sneaker maven, or sneaker-obsessed shoppers who represent themselves through their shoes the fashion-forward expressionist who want to look and feel cool and rely on their sneakers to deliver that feeling the athlete searching for high performance sneakers shoppers who prioritize quality and comfort and, finally, the deal-hunters. The new store concept and selling strategy - called the "Lace Up"- will focus on specific segments of sneaker shoppers. "Nike will continue to lead our brand portfolio and be 55% to 60% of our mix," said Chris Santaella, Foot Locker's chief merchandising officer. ![]() The company is looking to revitalize its Nike partnership with a product concept celebrating Foot Locker's 50-year anniversary in 2024. The retailer also forecast total sales to drop 3.5% to 5.5% in 2023.įoot Locker noted that among its portfolio of brands, its non-Nike branded product sales grew mid-single digits, while the Nike mix was down - though "only slightly." But Nike is Foot Locker's largest brand partner and will remain so, executives said. Foot Locker reported fourth quarter sales Monday that eased 0.3% versus a year ago. The "reset," as company executives describe it to analysts, comes amid softer sales. ![]() Included in the store trimming are 125 underperforming Champs Sports stores, which will be closed this year. Under its corporate umbrella, Foot Locker operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores globally. Aversa disclosed the details to aalysts during the company's investor day on Monday.
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