Foot Locker To Close Nearly 400 Stores

  • Leaders of the retail sneaker chain made the announcement about the closures Monday, so-called investor day, in New York City.
  • The closures will be in shopping malls, part of a new business plan that reportedly includes opening free-standing stores for niche audiences.
  • Wall Street seemed unconvinced about the reset – Foot Locker shares were down more than 5% for the day, and the company reported quarterly earnings on Monday above forecasts but sales guidance lower than expected.
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