March 23, 2023 - 6:00pm | By Kyle Cornell
(New York, NY) -- Foot Locker plans to close more than 400 of its stores in malls.
The shutdowns are coming as the athletic shoe and sportswear retailer adjusts its business to connect with niche markets.
Foot Locker executives said this week that the company's "Lace Up" plan is aimed at resetting its business and growing its total revenue to nine-point-five billion dollars by 2026.
Under the plan, Foot Locker will diversify its brand portfolio and embrace new standalone store formats that offer a wider selection of products.