Fewer stores move works for Foot Locker
18/11/2010
On announcing the result, chief executive, Ken Hicks, said the company was scaling back its “store-count” after a period of “oversaturating malls” across the US in the 1990s.
Foot Locker has opened 35 new stores so far this year, but it has closed a total of 61. Under a variety of brand names, it currently runs 3,474 outlets.
Mr Hicks said another change that was paying benefits was greater responsiveness to shifts in fashion trends, which had led Foot Locker to stock casual shoes as well as athletic models, for which demand has fallen.
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