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Foot Locker is scaling back on its mall presence, according to Business Insider.
The chain will be closing 400 mall stores by 2026. Currently, the company has around 1,300 mall stores in North America alone.
Per Business Insider, “the company expects to close 25% of its stores in A- and B-rated malls and 50% of its stores in C- and D-rated malls.”
While Foot Locker has significant mall closures planned, the company will be opening 300 “niche concept stores” outside of malls to cater to sneakerheads. By 2026, the company anticipates 50% of its revenue to come from outside of malls in comparison to the 35% it currently gets.
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