A tough nine months for Foot Locker - sportstextiles: Lea SportsTextiles

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A tough nine months for Foot Locker

03/01/2018
In the course of the first nine months of 2017, specialist athletic footwear retail group Foot Locker registered sales revenues of almost $5.6 billion, a decrease of 1.4% compared to the same period in 2016. However, the fall in earnings from those revenues was much steeper, declining by 30% year on year to $333 million.

In his comments on these figures, Foot Locker chief executive, Richard Johnson, spoke about the “tremendous disruption” facing the athletic footwear-buying public at the moment; he added that this disruption is affecting the whole of the retail sector. This is a reference to the increasingly dominant position of online retailers over bricks-and-mortar.

Shops and shopping-malls have ceased to be the main places to go to buy new products and consumers in most markets are not only becoming used to buying online instead, they are embracing the new retail reality enthusiastically.

Mr Johnson insisted Foot Locker is in a position to navigate its way through this disruption. The company took steps towards the end of 2017 to reduce staff numbers.


Related stories:

Disappointing quarter for Foot Locker 28/08/2019
Foot Locker invests in children’s sneaker brand 07/01/2019

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