Foot Locker Opens Up & Goes Local

Quartz: “Foot Locker announced in March that it would close more than 100 US stores this year, and stories attributing the news to a ‘retail apocalypse’ quickly followed. The company’s CEO, Dick Johnson, has some thoughts on those headlines: They totally missed the point … More important, according to Johnson, are the new stores Foot Locker is opening. Yes, there will be fewer of them, but they’ll offer better experiences for shoppers.”

“One thing they’re doing is tailoring stores to specific markets by working with local artists and influencers. They’re also considering services you can’t get online, whether that means putting a barber shop in the back, or having a sneaker cleaner come in once a week so folks can get their shoes freshened up.” Johnson comments: “The real headline wasn’t that we’re closing 100 doors. It’s that we’re opening 40 and they’re going to be really special places for our consumer to come and engage with our brand.”

“It’s true that many brands are closing stores because they’re struggling. But having fewer, better stores can also be a sign of a business planning for the future. To that point, Johnson also emphasized Foot Locker’s preparation for an increasingly digital world. One of the company’s biggest investments, he said, is in ways to analyze and use data.”

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