The spate of closures will reportedly be effectuated through 2026.
Author’s Note
This article is based on corporate postings and accredited media reports. Linked information within this article is attributed to the following outlets: NRF.com, FootLocker-Inc.com, and SneakerNews.com.
Introduction
In 2022, then-current plans for Foot Locker through that year’s end included the closure of several longstanding locations. According to NRF.com: Again, store closing announcements were down substantially in the first six months of 2022 when compared with the same period last year. Among retailers announcing closings, Foot Locker leads with plans to close 190 of its 2,800-plus stores. However, the footwear retailer is also planning to open 100 new stores this year, so the net planned reduction is 90 stores.
Per FootLocker-Inc.com, incidentally, those 2800-plus stores represented the company’s global location count.
Now comes word, however, that in 2023 “about 400” Foot Locker locations will begin disappearing from malls nationwide.
Let us explore further.
Foot Locker, 2023
According to a report from trade site SneakerNews.com, entitled “Foot Locker Set to Close About 400 Mall Stores by 2026,” the mall-based closures have already begun.
As excerpted from the report: Foot Locker, a directory highlight arguably second to the likes of Auntie Anne’s, is more than aware that malls are a dying breed... By 2026, the company will reportedly close around 400 mall locations — in addition to underperformers — subsequently replacing them with a new format of retail. According to Crain’s Detroit Business reporter Jay Davis, Foot Locker has already begun this initiative, shuttering sites at the Lakeside Mall and Eastland Mall before opening a large-scale store across the street.
The entity plans to continue to open new stores while permanently shuttering the mall-based locations.
Conclusion
This is a developing story. In the event of pertinent updates to this matter, inclusive of progress and official announcements of milestone dates, I will share them here on NewsBreak.
Thank you for reading.
Comments / 1