#Foot actio. full

As of , Foot Locker operated 2,952 stores in 27 countries in North America , Europe , Asia , Australia, and New Zealand, as well as 131 franchised Foot Locker stores operating in the Middle East.įoot Locker also invested $51 million in its store fleet, digital platforms, supply chain and logistics capabilities, and other infrastructure in Q1. to better serve our consumers in a post-COVID marketplace.”ĭuring the first quarter of 2021, the company opened 12 new stores, remodeled or relocated 15 stores, and closed 58 stores. As we look ahead, we see this as an opportunity to strengthen our global portfolio of brands, increase our value to our shareholders and vendor partners and ultimately position Foot Locker, Inc. “Through their contributions, we've gained valuable learnings and consumer insights. “I'd like to personally thank and commend the Footaction team for their tireless efforts over the years,” said Johnson. The retailer intends to grow the Champs Sports homefield concept, with extended assortment for men's, women's and kids that will expand to include lifestyle and performance categories. One-third of the top performing Footaction locations will be transformed into new Foot Locker stores, establishing a bolder women's and kids presence as well as new Champs Sports and Kids Foot Locker stores, CEO Dick Johnson said. The company will close the majority of the remaining Footaction stores as leases expire over the next two years.

On the heels of a strong first quarter that beat estimates, the retailer decided to convert approximately one third of its Footaction stores into other existing banner concepts over the course of the year to focus growth on its iconic banners. It shared that it invested $51 million in its store fleet, digital platforms, supply chain and logistics capabilities, as well as other infrastructure.Foot Locker announced it will eliminate its Footaction banner to position its store fleet for the future.

#Foot actio. full

With strong product tailwinds, we remain optimistic about our category and our ability to drive long-term growth, profitability and shareholder value.”įoot Locker, which did not provide guidance for the full year, ended the period with cash and equivalents that totaled $1.96 billion, while the debt on its balance sheet was $109 million. “Our merchandise offering resonated very well with our customers, driving strength in our stores and continued momentum in our digital business. ports congestion, our top- and bottom-line results were nothing short of exemplary,” he added. “Against the ongoing challenges of pandemic-related store closures in Europe and Canada and U.S. In a statement, chairman and CEO Dick Johnson said that he was “extremely pleased” with the first-quarter performance - relative to not only the COVID-19-impacted quarter in 2020, but also the same period in 2019. Revenues advanced 83.1% to $2.15 billion, versus market watchers’ projections of $1.88 billion. Wall Street had predicted earnings of $1.09 per share. Today, Foot Locker reported adjusted earnings of $1.96 per share for the three months ended May 1, compared with a loss of 67 cents per share in the same period last year. In addition, it has 131 franchised stores in the Middle East. At the start of May, it operated 2,952 locations in 27 countries in North America, Europe, Asia, Australia and New Zealand. Over the course of the quarter, the New York-based chain opened 12 new stores, remodeled or relocated 15 outposts and closed 58 units.

Foot Locker Will Soon Have Two New Women in Power as CEO and Board Chair: Why That Matters