2024-02-18 04:00:13 ET
Summary
- Foot Locker is shifting from mall-based to off-mall 'new format' stores to attract a broader customer base.
- It has started partnerships with leading brands like Puma and Reebok and a renewed Nike partnership.
- NBA sponsorship to boost brand loyalty and engagement, tapping into the massive global basketball fan base.
- Foot Locker is targeting expansion in Asia-Pacific and India, trying to capture the growing middle class in these areas.
- The current economic environment has decreased earnings and margins, but the foundation is set for recovery as the consumer spending upcycle takes hold.
Investment Thesis
Foot Locker ( FL ) is a shoe and sportswear retailer. The current consumer spending downturn has hammered Foot Locker's share price, falling almost 40% over the trailing twelve months....
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Foot Locker Laces Up For Off-Mall Move