Foot Locker Signals Changing Retail Landscape With Store Closure Plan
Continuing last year’s closures.
Despite being the largest footwear retailer in the United States, Foot Locker is set to close 110 of its stores nationwide this year. After closing 147 stores in 2017, Foot Locker is set to continue its closures as consumers are increasingly moving to online shopping. Signaling the changing retail landscape, the footwear purveyor is set to close its struggling stores to open 40 new stores in thriving locations.
In recent years online shopping is forcing retailers to rethink store concepts with exclusive products to create more immersive retail experiences. Foot Locker is not the only major retailer that has been forced to take a closer look at its retail location, as department stores like Macy’s and JCPenney have also kicked off revamp plans.
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