Foot Locker’s Post

Folks who know have said we've been "over-retailed" for years now, and Macy's is only the latest to flash a playbook of a smaller, but more profitable store footprint. 💡 Announced today on their earnings call, they will close 150 stores that represent 25% of their portfolio's square footage but contribute just 10% of sales. 💡 Similar to Abercrombie & Fitch Co.(see my previous post here https://lnkd.in/ezV7f-mQ), Macy's will shift away from giant flagships toward smaller, more agile formats, double down on their luxury brands Bloomingdale's and Bluemercury, and simplify operations 🤔 But no mention of an #ai and #advancedtechnology #roadmap to support this massive and critical #retailtransformation https://lnkd.in/enqgQr8e #topretailexpert

Great perspective on retail industry changes to come. Our Fashion & Retail division are also starting to see this as they support staffing up retailer stores. #retailindustry #retailtrends

Kick'n-in-the-door with a digital-first approach is a flex shoppers have long awaited from retailers. Sneakers are no longer just casual transactions; they're a story that heads flex in feeds and forums long before they pound the pavement. So, talk about a killer crossover—Footlocker is leveraging its app to tap into cultural trends and the latest drops while adding a humanistic approach of an online pickup zone right in its store. This is more than just a step up from static mannequins and dressing rooms—it's a game-changer. This isn't just progress; this is playing to win.

💬 Let’s Talk Retail What do you think of the Footlocker.com Inc store of the future? We think it’s a great industry case study in building personalized experiences & frictionless shopping 👏🏻 Another thing we were thrilled to see - Brands like Nike reinvesting with their retail partners. Read more from CNBC: https://cnb.cx/44yISXT #retail #innovation #CustomerExperience #industrynews

Foot Locker is lacing up for a game-changing transformation that's set to redefine the retail experience as we know it. Imagine this: You walk into a Foot Locker store, and instead of the typical mall vibe, you're immersed in a community-focused, experiential haven that caters to your unique sneaker passions. With their new "Lace Up" strategy, Foot Locker is taking cues from Apple's playbook, focusing on creating deeper, more personalized relationships with customers. 🤝📱 They are also closing underperforming locations and introducing nearly 300 new format stores. Think "Community," "Power Store," and "House of Play" – each offering a localized, immersive experience that resonates with diverse consumer groups. How do you envision the future of retail, and what do you expect from your favorite brands? 🤔 Foot Locker's transformation is a bold response to the ever-evolving retail landscape, where customer experience and brand interaction reign supreme. I’m encouraged to see this shift towards value-driven shopping experiences that cater to the unique needs and desires of consumers. What do you think about Foot Locker's "Lace Up" strategy? Are sneaker fans ready to embrace this new era of retail innovation? Drop your thoughts in the comments below. 👇💬 #Retail #LaceUpWithFootLocker #ExperientialRetail #SneakerCulture #Marketing https://lnkd.in/gZ4t3y3u

Dear LinkedIn community, Sharing the latest from Foot Locker: They reported a holiday-quarter loss, and the market response has been significant, with shares taking a 30% plunge. As we navigate the dynamic retail landscape, it's clear the sneaker giant is facing challenges. Despite ongoing efforts led by former Ulta boss Mary Dillon, the company has also adjusted its guidance for the current year and delayed a key profitability target. Change is inevitable, and Foot Locker is in the midst of a turnaround journey. Challenges may be tough, but the resilience of a brand often lies in its ability to adapt. Here's to hoping the steps taken lead to a stronger and more resilient future. Let's stay connected for more updates on industry shifts and strategies. Your insights are always welcome. #FootLocker #RetailIndustry #BusinessNews #TurnaroundJourney #Adaptability #TheSocialTalks

👟🏃♂️ Foot Locker is undoubtedly propelling its customers into the future, a future of rewards that fosters loyalty among athletes and sneaker enthusiasts, making Foot Locker's 795+ stores across the United States their favorites. Transitioning from a loyalty plan focused on new releases and specific promotions, Foot Locker launches its new version, previously tested in Canada for at least a year. The aim is for customers to earn points for their purchases and redeem them for future purchases. Additionally, with this loyalty plan, Foot Locker can gather valuable customer data to better forecast demand and be more precise in product assortment across both its stores and digital channels. The goal is to achieve a 50% Loyalty Penetration by 2026, with a future target of 70% for this crucial business KPI. #FootLocker #loyaltyprogram #customerexperience 🛍️📈 Source: https://lnkd.in/dxhWDgxm

UNIQLO is opening 20 new stores in North America in 2024 The global fashion giant, UNIQLO is set to open over 20 new stores across the United States and Canada. This marks a significant increase from their previous year's openings, showcasing UNIQLO's commitment to growth and customer connection. Key Highlights: - New locations include Tacoma Mall in Washington, Alderwood Mall in Lynnwood, South Shore Plaza in Massachusetts, Providence Place in Rhode Island (a new market entry), and Staten Island Mall in New York. - Canadian shoppers can anticipate openings at CF Fairview Mall and Scarborough Town Centre in Toronto, CF Market Mall in Calgary, and Bayshore Shopping Centre in Ottawa. - Daisuke Tsukagoshi, CEO of UNIQLO North America, emphasizes the importance of stores as community hubs and the brand's eagerness to engage with local customers. - UNIQLO is not just expanding its store count but also focusing on enriching the retail experience with innovative LifeWear concepts and viral products. - The brand aims to reach 200 stores in North America by 2027, building on its global network of more than 2,400 stores. Join the UNIQLO journey and stay ahead of the retail curve by subscribing to RETAILBOSS for the latest news and insights. Don't miss out on the trends shaping the industry! 🔗 Subscribe now and be part of the conversation: https://lnkd.in/etP9UHM2 #UNIQLO #RetailExpansion #FashionRetail #RETAILBOSS #RetailNews #SubscribeNow

“Instead of going after a department store, let’s do something that’s more fun and more interesting and that will drive a lot of traffic.” The quote pretty much sums up the state of the US #DepartmentStore sector (it’s not quite as bleak outside the US, where many department stores still have, well, “departments” beyond apparel, footwear, accessories, fragrance, beauty, and home). For those wanting a bit more (or for those who are paywalled), read on. The Wall Street Journal pulls no punches. “Department stores are bleeding customers, and landlords no longer view them as magnets for shoppers. Discounters are underpricing them. Specialty stores are outmaneuvering them. And luxury brands are sometimes bypassing department stores to open their own shops. The surviving operators are making big moves in hopes of turning things around. Saks Fifth Avenue’s parent company is buying rival Neiman Marcus. Nordstrom executives are exploring taking the company private. Macy’s new chief executive is closing stores while trying to improve the shopping experience at its leaner fleet. But department stores’ long-term decline will be difficult to reverse. Their sales peaked just before the turn of the century and have been on a downward trajectory ever since, according to U.S. census data. ‘Young customers aren’t shopping at malls and they aren’t shopping department stores in the same way they used to,’ said Stenn Parton, Prism’s chief executive. “ https://lnkd.in/grjfc33W

MACYS ANNOUNCED THEY WERE CLOSING 150 NONPROFITABLE STORES, BUT DID YOU ALSO SEE THAT THEY ARE ADDING 15 ADDITIONAL BLOOMINGDALES, 30 BLUE MERCURY STORES, AND REBRANDING THEMSELVES. Macy's has determined that owning 507 stores is just too many to compete in today's world- so they are closing 150 of them and focusing on their strongest 350 stores and adding new brands. And this is in the midst of a potential investor group vying to purchase the brand. To those of us in the industry, we know the need to "right size" the company as we have seen way too many retail brands that didn't. And we have seen the takeovers that didn't go as planned. Kudos to you Macy's as you navigate profitability. We are rooting for you as you build a stronger brand. #retailrealestate #retailleasing #retail #cre #retailstore #commercialleasing #luxurybrands #luxurybrand #realestatebroker #realestateexpert #ICSC #nrf https://lnkd.in/eFSfxMNM