Foot Locker will close 400 stores by 2026

Sneaker chain Foot Locker has announced that it plans to close 400 stores by 2026 in an effort to become more relevant to younger shoppers again, while also seeking to create in-store concepts that convey an “experience.”

Although the company did not disclose which institutions would be included in the list, it did anticipate it Those with low performance will close in malls.

Anthony Aversa, senior vice president of store development at Foot Locker, said the North American closures will account for approximately 10% of the chain’s total sales. Analysts were informed of the news last Monday.

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In Puerto Rico, Foot Locker has approximately two dozen stores, many of which are in mallssuch as Plaza Las Américas, Plaza Carolina, Plaza Escorial, Mayagüez Mall, Plaza Isabela, Plaza del Norte in Hatillo, and Plaza del Sol in Bayamón.

Foot Locker stores carry different brands of athletic shoes, however Its main partner is Nike“and always will be,” according to the directors of the series.

In the reduction plan, about 125 sports champions will also be included who performed poorly. Closings will take place this year.

There are more than ten heroes on the island at the moment.

The New York-based company operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores in twenty countries around the world.

Q4 sales totaled $2,334 million, which was down slightly (0.3%). compared to the previous year for the same period. The chain expects total sales to decline in 2023, between 3.5% and 5.5%, compared to 2022.

Foot Locker celebrates its 50th anniversary in 2024, having been founded in September 1974 in California.