News of Foot Locker’s plan to close roughly 110 stores in 2018 caused some panic in the athletic footwear marketplace late last week. But industry experts believe there’kids shoe locker little need to be concerned.
Foot Locker has averaged about 100 store closings a year for the last decade. Matt Powell, senior industry adviser for sports at the NPD Group Inc. And Sam Poser, a Susquehanna Financial Group LLLP analyst, agreed. It’s a crappy headline, but it’s just that — a headline. According to Poser, Foot Locker had 3,921 stores worldwide to end 2005, a number that dropped to 3,310 stores by the end of 2017. Their productivity has gone way up. Poser doesn’t believe the closings necessarily have much to do with the consumer shift to e-commerce and away from brick-and-mortar.