Despite announcing the closure of more than 100 retail stores back in March, Foot Locker‘s CEO Dick Johnson says that the company is doing just fine. In fact, Foot Locker’s plan to open 40 more stores was perhaps the significant part of the story, which was overlooked by headlines aiming to emphasize the retail apocalypse. Johnson stated during a summit held by the Footwear Distributors and Retailers of America (FDRA) that the new locations are “going to be really special places for our consumer to come and engage with our brand.”
Johnson mentioned that partnering with local artists to provide unique experiences and providing services like barbershops or sneaker cleaners are part of Foot Locker’s overall retail strategy to adjust its stores based on the different markets they serve. The sportswear giant is also investing heavily in data to figure out how to stay competitive in today’s digital economy.
Most recently, we’ve seen Amazon expand its cashier-less “Go” stores and historic brands like Chanel experiment with augmented reality platforms signaling the rapid pace of innovation within the retail landscape.