The sharp slowdown came like a cold shower: as highlighted by Qz, after seven years of positive growth, sales of Foot Locker, the well-known chain of sports goods and footwear stores, show a worrying halt, with a 6% contraction for the results of the second quarter of the year. A cold shower for the group, which, according to analysts’ estimates, expected a further increase of 1.7%.
The reason? Apparently, Foot Locker is also starting to feel the fierce competition from online stores, especially Amazon. But there are also those who would be ready to point the finger at an excessive dependence of the chain on the Nike brand: while it is true that products branded with the famous swoosh account for 70% of Foot Locker’s sales, it is also true that Nike mainly fills the shelves of various stores with running shoes or footwear designed strictly for sports. A strategy that is sharply different from the latest market demands, which, at least in the United States, are increasingly leaning towards the world of more casual sneakers.
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