2,196
 

Foot Locker To Close Footaction Stores After Colossal Q1 Earnings



ADVERTISEMENT
 
topics gone triple plat - Number 1 spot 3X PLAT




section  x1   |  0 bx goons and 1 bystanders Share this on Twitter       Share this on Facebook

section gear
  
 2 months ago '07        #1
3172 page views
40 comments


Avon_Barksdale  topics gone triple plat - Number 1 spot x104
avatar
Props total: 229626 229 K  Slaps total: 20806 20 K
Foot Locker To Close Footaction Stores After Colossal Q1 Earnings
 

 


Footwear and sportswear retailer Foot Locker (FL) smashed Q1 ’21 earnings estimates delivering adjusted EPS of $1.96 vs. $1.08 and posting revenues of $2.15 billion, representing an 82% increase year-over-year.

Comparable-store sales increased by 80.3% in the quarter. Total sales increased by 83.1%, to $2,153 million compared with sales of $1,176 million in the same period last year as cities and stores across the U.S. and the world continue to open up following COVID-19 closures and lockdowns.

“Last quarter, I talked about entering our fiscal 2021 with momentum, and that was certainly the case in our first quarter.

The momentum gained strength as the quarter progressed, enabling us to deliver exceptional top-line and bottom-line results, even against the ongoing challenges of store closures in Europe and Canada and congestion at the U.S. ports leading to abnormally lean inventory levels," said Foot Locker Chairman and Chief Executive Officer d*ck Johnson on the company's earnings call.
Johnson also noted the strength of Foot Locker’s digital business, which is up 43% on a comp basis and landing at a penetration rate of 25% of the company’s total sales. In addition, Foot Locker saw its footwear business increase by over 70%, and its apparel and accessories business was up triple digits.

But perhaps the most compelling news from the footwear and sportswear retailer was its decision to close the majority of the remaining Footaction stores as leases expire over the next two years.

“We are currently in the process of a*sessing the Footaction fleet to determine the best decision for each location.

Approximately one third of the top performance Footaction locations will be made into new Foot Locker stores establishing a bolder women’s and kids presence, as well as new Champ Sports and Kids Foot Locker stores. We are excited about the opportunities to expand our women’s and kids presence within our foot locker and Champs Sports stores.”
Johnson said that the decision to close out the Footaction brand was not an easy one and thanked the Footaction team for their “tireless efforts” over the years.



visit this link https://www.yahoo.com/fin .. 161818976.html
+5   



best
worst
40 comments
 

 2 months ago '15        #2
Tully Blanchard 
Props total: 128220 128 K  Slaps total: 5449 5 K

well at least some of the top performing stores will transition
+11   

 2 months ago '07        #3
Avon_Barksdale  topics gone triple plat - Number 1 spot x104 OP
Props total: 229626 229 K  Slaps total: 20806 20 K
 Tully Blanchard said

well at least some of the top performing stores will transition
Fact's...

+4   

 2 months ago '14        #4
Nemohoes95 
Props total: 18465 18 K  Slaps total: 2258 2 K
fu*k all footsites sh*ts are botted to hell. Snkrs or bust.
+17   

 2 months ago '17        #5
yousabitch 
Props total: 18084 18 K  Slaps total: 4903 4 K
brick and mortar retail is dead ...sad sh*t..i actually prefer to actually go see the product in person, try it on, feel the material...its an experience
+70   

 2 months ago '14        #6
Bigboi781  topics gone triple plat - Number 1 spot x9
Props total: 19854 19 K  Slaps total: 6205 6 K
Stockx, Goat, and resale market doing foot locker well. GR reselling for crazy prices now
+11   

 2 months ago '06        #7
Be Easy 
Props total: 15705 15 K  Slaps total: 1879 1 K
the 3 in store spots were the easiest way to get kicks

even tho I prefer to buy just about everything online

they changed the format anyway

it’s just pay to play now
+6   

 2 months ago '18        #8
Capodecina  topics gone triple plat - Number 1 spot x1
Props total: 29129 29 K  Slaps total: 2125 2 K
Nothing lasts forever

+15   

 2 months ago '17        #9
Hi Life 
Props total: 10431 10 K  Slaps total: 1248 1 K
 bxneedsme said
Foot action was the best sneaker store til they sold the company to Footlocker. I was working there when the acquisition occurred. The old inventory had to be liquidated, so they could ship the Footlocker stuff in. We were getting Air Max for $20. Nike hooping shorts for $5. sh*t was ridiculous.
facts man.....Footaction was the goat. I use to get all my J's from there. Before the internet sh*t. Some J's use to be super limited back then, and Footaction would be the only store to sell them. I remember them days gettin up early to go stand in line on Saturdays. Coppin the shoe with shorts/tee to match. End of an era 4real smh
+30   

 2 months ago '05        #10
youngvito18 
Props total: 24979 24 K  Slaps total: 4639 4 K
82% increase year over year

n*gga it was a pandemic last year, them.doors were closed, STOP WITH THE PROPOGANDA
+16   

 2 months ago '18        #11
Jwardisback3rd 
Props total: 4122 4 K  Slaps total: 510 510
Finish lines are about to become shoe palace's
+9   

 2 months ago '18        #12
baddie  topics gone triple plat - Number 1 spot x22
Props total: 47284 47 K  Slaps total: 18928 18 K
 Jwardisback3rd said
Finish lines are about to become shoe palace's
A lot of shoe stores are because kicks nowadays that people want aren’t sold at these establishments

I’m looking at my kicks rn, and not one sneaker could’ve been found at footaction, not even my damn new balances

You’re better off getting kicks from smaller sneaker/clothing stores... it’s crazy,,, sh*t hitting a full 360
+12   

 2 months ago '06        #13
LYTE 
Props total: 22875 22 K  Slaps total: 2023 2 K
What irks me is they all have the same exact sneakers in most cases, just different colors.

FNL
Foot Locker/Action
Champs
Eastbay
+6   

 2 months ago '20        #14
Bighempin 
Props total: 7556 7 K  Slaps total: 992 992
 yousabi*ch said
brick and mortar retail is dead ...sad sh*t..i actually prefer to actually go see the product in person, try it on, feel the material...its an experience
Ment to prop #Factz tho
+1   

 2 months ago '21        #15
BackInTheSaddle 
Props total: 2394 2 K  Slaps total: 1270 1 K
foot locker
foot action
eastbay
and champs

all use the same warehouse

they all sell the same inventory
using the same SKU#s
+13   

 2 months ago '08        #16
stead21  topics gone triple plat - Number 1 spot x2
Props total: 11268 11 K  Slaps total: 1791 1 K
 Jwardisback3rd said
Finish lines are about to become shoe palace's
Just copped me some nikes from rack room
+1   

 2 months ago '16        #17
BobbiHeadRagTop  topics gone triple plat - Number 1 spot x4
Props total: 79731 79 K  Slaps total: 3779 3 K
Damn man they closed all the ones in Austin a while ago this just brought back the pain plair ...still got my Og And 1 mixtape vhs from there funny thing is they was free till part 3 came out damn ... Balllooooonssss are deflated.....
+1   

Top 10 most propped recently  2 months ago '07        #18
Goosie McNeen 
Props total: 11425 11 K  Slaps total: 903 903
Anybody remember Just for Feet?

It was a shoe store with a halfcourt bball hoop in a cage
+17   

 2 months ago '14        #19
angryostrich 
Props total: 2317 2 K  Slaps total: 175 175
I remember the just for feet in the Bronx , off i95 think it’sa Chuck E. Cheese now
+2   

 2 months ago '21        #20
Tlatoani  topics gone triple plat - Number 1 spot x1
Props total: 9368 9 K  Slaps total: 2053 2 K
 Goosie McNeen said
Anybody remember Just for Feet?

It was a shoe store with a halfcourt bball hoop in a cage
Those were my elementary days.

Back when I was excited to get shoes that weren't from Payless.

I love my parents
+8   

 2 months ago '17        #21
TeamBrinkz 
Props total: 3748 3 K  Slaps total: 1318 1 K
sounds like they cooked the books to make it look like footlocker did more profit than it did by combining the stores or somesh*t........

you don't close up stores when your caking up.......... that's not how that works.
+4   

 2 months ago '08        #22
AC_89  topics gone triple plat - Number 1 spot x7
Props total: 68221 68 K  Slaps total: 3652 3 K
Them chain stores don’t be having anything in it anyway
+1   

 2 months ago '04        #23
Jumpoff21  topics gone triple plat - Number 1 spot x3
Props total: 14510 14 K  Slaps total: 751 751
 Goosie McNeen said
Anybody remember Just for Feet?

It was a shoe store with a halfcourt bball hoop in a cage
I used to love that spot
+1   

 2 months ago '21        #24
RagnarRogers225 
Props total: 5742 5 K  Slaps total: 1065 1 K
Where y’all get y’all shoes from it’s a app
-1   

 2 months ago '15        #25
broward 
Props total: 4005 4 K  Slaps total: 95 95
 youngvito18 said
82% increase year over year

n*gga it was a pandemic last year, them.doors were closed, STOP WITH THE PROPOGANDA
This.

I don't understand companies bragging about the increase like there wasn't a pandemic that forced businesses to be closed for a good chunk of the year




Sign me up
 
 

yesterday...


most viewed right now
+24online now  11
Video inside EXPOSED - Jade Pinkett slept with underage rapper
182 comments
2 days ago
@hiphop
most viewed right now
online now  9
The Truth About the Vaccine
347 comments
1 day ago
@wild'ish
most viewed right now
+54online now  5
Team “Not Playing for” USA…
68 comments
1 day ago
@sports
most viewed right now
+197online now  3
Damian Lillard: “Foreign players play better for their home countries than..
231 comments
1 day ago
@sports
back to top
register register Follow BX @ Twitter search BX privacyprivacy