![]() ![]() Roughly 1,400 locations or approximately 45% of Foot Locker’s store fleet are now reopened, Johnson said. ![]() “The current site works well but it can be overwhelming as it focuses on displaying volume rather than showcasing product and creating a great experience.” “Generally, Foot Locker needs to make its digital experience more engaging,” Neil Saunders, managing director of GlobalData Retail said in an email. But, net sales were down 43.4%, a clear indicator that Foot Locker’s investments in e-commerce aren’t anywhere close to offsetting the company’s store sales declines. Foot Locker doesn’t break out how many of its sales come from e-commerce. It’s also worth noting that, moving its stores away from malls won’t totally be a panacea. So Johnson said that the company would also be looking into more “nomadic retail, or pop-up retail.” But right now, in-store events are out of the picture, and larger store formats could risk losing the company more money if customers aren’t showing up. These stores are four times the size of a typical Foot Locker store in the mall, and are meant to serve as community events centers in addition to stores. Foot Locker’s strategy for the past two years has been to open more Power Stores, its name for its off-mall stores. Now, the coronavirus is accelerating those plans, CEO Dick Johnson said during the company’s first-quarter earnings call. But, with fewer people turning to malls do to their shopping, Foot Locker has been looking to move more of its stores out of enclosed shopping centers. In the golden age of the mall, that presence in shopping centers was valuable, particularly during high traffic periods back-to-school season. Foot Locker has long been a staple of the mall, with an estimated 80% of its stores being located in malls as of 2018. ![]()
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