Footwear chain Foot Locker reviews retail format

Worldwide
Published:  08 June, 2018

Named Power Store, the new, larger retail format seeks to “inspire and build a community, and offer our customers an immersive experience, with an ultra-local approach”, says Richard Johnson, CEO, Foot Locker.

The first Power Stores are to open in the cities of London and Liverpool, UK, this summer. Further, openings are said to include Hong Kong in the third quarter of 2018, followed by three in Singapore and one in Kuala Lumpur, Malaysia, as well as one in the U.S. later this year.

The retail chain, which currently operates 3,284 stores worldwide, is said to be seeking to move away from shopping malls towards larger, independent premises “to create experiential events” for its customers.

The U.S. headquartered Group posted revenue of €2.02 billion (+1.2%) in the first quarter of fiscal 2018, with net income dropping -8.3%, to US$165 million. Reportedly, Foot Locker is to close around 120 stores but to open another 40, including the larger Power Stores.

Source: Fashion Network