Good Lifestyle

Whether you hit the field or just want a pair of coaches who seem as beautiful as they feel it, Foot Locker and its Sister Store Champs Sports are essential resources for anyone on the sports shoes market . Popular retailers can facilitate the search for cleats, sneakers, training boots or perfect clothes that can keep you in the streets or do your best in your next match. But thanks to the changes in the way people buy, even the pillars of the shopping center are forced to change the way they earn customers and Reduce the footprint of their store . And now, Foot Locker and Champs Sports have announced that they would close 525 stores in the coming years. Read the rest to find out more about where the company makes the changes and it plans to go afterwards.

Read this then: Best Buy closes 17 stores this week, with dozens of others to come .

The collectors of dedicated sneakers saying that they "wait for the other shoe to fall" generally makes a literal declaration. But shoe fans can be in some bad news : On March 20, Foot Locker announced that it would close 400 stores by 2026, reports CNN. In addition, the company added that it would close 125 of its sports field stores by the end of this year .

In its update of investors shared with financial analysts, the company's managers said that this decision was part of brand "reset" and will most affect sub-performative locations in shopping centers. "These 400 stores represent almost 10% of our total sales," said Tony Aversa , Main vice-president of store development, by Axios.

The news of the closures comes as the company also published its sales figures in the fourth quarter for 2022, showing a drop of 0.3% compared to the previous year. In addition, the leaders said they expected sales from 3.5 to 5.5% this year.

Better life Contacted Foot Locker to comment on the closures, but has not yet heard.

However, the company's backpedaling will not be permanent. Managers have explained that movements are part of its "laces" revitalization strategy that will focus on serious shoe buyers, athletes that rely on high performance and global experienced customers, reports CNN.

"We will expand new concepts with not more important footprints to offer more attractive experiences with a wider assortment of products," said Aversea. He added that even if Foot Locker will lose 10% of its number of stores following the announced closures, "we will increase our square area by 10% to more than 14.5 million square feet while we open larger expressions And more experimental from our brands with an assortment of larger products. The new formats will exceed 400 locations. "

According to the CEO of Foot Locker Mary Dillon , the company remains convinced that everyday relaxed dressers will remain popular because people continue to separate from work from the house and the office. "We are not going back to less comfort in our lives. I can tell you," she said, by CNN.

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Although the company can modify the provision of several of its stores, it also strengthens a very familiar aspect of its commercial model. Dillon said Foot Locker "would revitalize" his relationship with Nike emblematic shoe brand, To say that the two had a "shared vision of the future market, aligning on growth plans and key strategic areas such as basketball, children and the culture of sneakers", by Axios.

As the largest partner of existing football shoes, buyers can expect to see many more "swoosh" on the shelves of the retailer. According Chris Santaella , Director of chief merchant of Foot Locker, Nike will represent "55% to 60% of our mixture".

Even if Foot Locker makes movements to improve your sole in the middle of the changes in the landscape of retail, it is far from being the only one to announce store closings as part of its strategy. AE0FCC31AE342FD3A1346EBB1F342FCB

Target recently confirmed that he would close Four sub-performant locations In Minnesota, Pennsylvania, Maryland and Virginia on May 13. However, the company said it was planning to open 20 new stores "in a variety of sizes "At the end of the year, according to a press release of February 28 describing the retailer's investment strategies.

National Pharmacy chain CV Also followed his plan to close 300 locations until the end of next year with the closure of a store in Tallahassee, Florida last week. The company also confirmed that two other Missouri and New York stores would be bankrupt in early April, and another in Virginia would close on April 18.

Clothing retailers have also announced that they would reduce their store footprint in the coming months. During a call for results on March 9, Gap Inc. Financial director Katrina O'Connell Confirmed that the company planned to "close 50 to 55 Gap and Banana Republic stores" in 2023. And on March 16, the CEO of Children's Place Jane Elfe Confirmed that the children's clothing company provides for the closure of around 100 locations, most components by the end of this year.