Foot Locker Closing 110 Stores

Foot Locker (New York) plans to close approximately 110 stores this year, which are being described as “under-productive,” according to Chief Financial Officer Lauren Peters. However, the company added that it will open about 40 new stores during 2018. Last year, the retailer closed 147 stores and opened 94 new doors.

According to Business Insider, this move reflects changing customer needs. Consequently, the retailer is working to move away from “deteriorating” malls. Instead, Peters said, “Consumers want experiences, they want cool products, and they want it all — fast.” 

The company has not yet detailed which locations will close.