There are four things going on here:
Nike and FootLocker has revitalized their partnership and Nike merchandise should start appearing again in Footlocker stores around Christmas.
Footlocker is closing the Lady Footlocker, Footaction and Eastbay brands in North America.
Footlocker is closing 400 stores in class C and D malls.
The company is focused on developing a store of the future concept which will launch in New York City in 2024.
My take on this?
First, I wasn’t even obvious to me that Lady Footlocker and Footaction were still viable brands in North America to begin with. What were they doing still around?
As far as malls are concerned, same thing.
Why is Footlocker still in all these old C and D malls which are declining and lost their anchors?
I just getting the feeling that Footlocker went through a major strategic planning effort and some of these items should have been completed 5 years ago.
I’m worried that Footlocker is going to launch in New York City. How is that a scalable “store of the future”? NYC is such a unique market compared to the rest of America.
In the long-term, I worry a little about Footlocker and think it could get more pressure from players like Dick’s Sporting Goods in particular – they seem like a better-run company to me at the moment.