Foot Locker stores will soon have fewer Nike products for sale

[tay1]

The popular apparel and sneaker company has, over the past several years, been shifting sales away from retail outlets and towards its own stores, both online and brick-and-mortar. Nike has previously pulled its products from such retailers as DSW, Macy’s, Urban Outfitters and Zappos.


Now it looks like Foot Locker will be added to that list as well. The retail shoe chain, which has a corporate services office in Camp Hill, announced last week that no single vendor is expected to represent more than 60% of its business this year, according to a story from Yahoo Finance. For comparison’s sake, Nike represented 70% of sales in 2021 and 75% in 2020.



“This change reflects Nike’s accelerated strategic shift to direct-to-consumer and Foot Locker’s ongoing brand and category diversification efforts,” Foot Locker CFO Andrew Page said during an earnings call, Yahoo reported.



As a result, shares of Foot Locker crashed nearly 35% on Friday, a loss of about $950 million in market value. Shares are down about 40% for the year, according to CNN.



According to CNBC, the company plans to implement a cost savings program to cut back on about $200 million in expenses each year. It will also lean into its existing relationships with such brands as New Balance, Puma and Crocs.

Foot Locker stores will soon have fewer Nike products for sale: Here’s why

Shares of Foot Locker crashed nearly 35% on Friday, a loss of about $950 million in market value.

www.pennlive.com

 

[tay1]

Ya'll still cop from footlocker in store? I can't remember the last time I intentionally wanted to go to one myself.

 

[youngwolf]

frank mucus is about to be out of a job.

 

[langfor5]

Now KC is not a hot bed for sneakers and I understand the the global supply chain issues but FTL here locally is dead. Foot Action closed and I’ve never seen such bare shelves at the HOH. You combined the app switch to FLX and now Nike pulling back this spell disaster.

 

[Zainjal26]

Can’t remember the last time I bought something from ftl Instore

 

[tay1]

Now KC is not a hot bed for sneakers and I understand the the global supply chain issues but FTL here locally is dead. Foot Action closed and I’ve never seen such bare shelves at the HOH. You combined the app switch to FLX and now Nike pulling back this spell disaster.

According to the article, it doesn't have much to do with supply chain issues. Moreso a strategic decision.

 

[Rootin4EverybodyBlack]

Wonder if this will expand to the regional “urban” (for lack of a better term) stores like DTLR, Shoe City, etc

 

[tay1]

Wonder if this will expand to the regional “urban” (for lack of a better term) stores like DTLR, Shoe City, etc

I doubt it. If they want to take away from FL, I don't think going to smaller stores is the way. I think years ago, they may have even decreased supply to smaller stores.

 

[Mr Dink]

Not like I ever win any of their raffles anyways.

 

[Air Champa]

Surely the online stores will be bot proof. Would really suck if they're not.

I've still yet to win anything on FLX. Last shoes I won were Playoff 11s.

 

[TURBO UNO]

Meh, won’t affect Los Angeles. Got plenty of places to get Nike product and I won’t be surprised if our outlets and even clearance stores get more stuff.

With some Nike shoes out of Foot Locker I’ll be happy seeing more Reebok, Adidas, Fila and other brands on the shelves.

 

[trynafeelmink]

Footlocker was already looking bleak, taking Nike away is a huge blow

 

[thenewjs23]

Footlocker was already looking bleak, taking Nike away is a huge blow

This, Nike selection in FTL,Champs and Finishline have been on a down hill slide for years now.

 

[bale]

Ya'll still cop from footlocker in store? I can't remember the last time I intentionally wanted to go to one myself.

not since 2007 or 2008, whenever Zoom Flight 95 retroes were in stores in the late late winter or early spring. I'm thinking this was 2008, was like March or April. sorry 2006-2008 are a bit of a blur for me. Prior to that I had only copped Filas & Pumas from Foot Locker in the 2000's. Also remember copping Pumas from Foot Action in 2009 or 2010, mall type stores would always have the lesser brands on front street.

 

[ill4eva]

Good riddance. Lol

 

[slaughterx]

Anyone ever get this error?

Cant log in on the app or website. Tried resetting my password and the link never loads...

 

[TURBO UNO]

Nope. I get the “Sorry we’re sold out. Go **** yourself” in person

 

[Coromanti]

I've maybe went to Foot Locker once. I usually bought my stuff online.

 

[truenike81]

Why cop from the middle man when you can go straight to the plug

 

[TSCQ]

Why go to the plug, when I can get it from the outlet.

 

[DB Cooper]

I see more foot stores closing in the coming years. Footaction gone, Eastbay gone. Most FTL dropped the House of Hoops name (still don't know what was the whole point of HOH). All these banners pretty much carry the same generic releases that are going to end up in outlets. We'll always have the memories...

 

[truenike81]

FTL HOH was to be nike basketball and carry exclusive nike basketball products

FTA Jumpman 23 was to have exclusive Jordan products

Champs Under Armour

 

[thenewjs23]

I see more foot stores closing in the coming years. Footaction gone, Eastbay gone. Most FTL dropped the House of Hoops name (still don't know what was the whole point of HOH). All these banners pretty much carry the same generic releases that are going to end up in outlets. We'll always have the memories...

HOH was Nike's attempt to leverage existing Foot Locker locations to see its Bball products in the mid to late 2000s.

 

[executive76]

How long before things end up like strip/outlet malls or how downtown areas used to look back in the day

 

[Bend_The_Knee]

Ya'll still cop from footlocker in store? I can't remember the last time I intentionally wanted to go to one myself.

I remember DCAllAfrican saying be wanted to buy one of their striped shirts to match his concord 11s


Peep Game
T0INE
D Fly

Thoughts?