As part of a new business plan, Foot Locker is planning to close more than 400 stores in malls across North America. According to Business Insider, executives for the retailer shared a “Lace Up” business plan that includes the opening of new stand-alone store concepts. Foot Locker told Business Insider that it expects to close as many as 420 by 2026 to focus on its better-performing stores.
The retailer plans to open more than 300 new concept stores by 2026. These would include stores outside of malls. It’s reported that at an investor day event, Foot Locker executives described three new store formats, including a 15,000-square-foot “community” store designed for areas with “strong affinity for sneakers.”
Foot Locker operates more than 3,000 Foot Locker, Kids Footlocker, Champs Sports, WSS and atmos stores worldwide. It has around 1,300 stores in malls in North America. According to the Foot Locker website there are 35 stores in Michigan. The Lansing, Southfield, and Sterling Heights locations are listed but are temporarily closed. The shoe chain expects to have around 2,4000 stores by 2026.
More than 400 mall stores across North America closing.
These Michigan Foot Locker Stores Could Be Closing By 2026.