We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Aug 8, 202011:26pm

Foot Locker pulls guidance for 2020 following store closures

Footlocker revises its outlook for 2020, a year in which the company expected to grow by 5% year-on-year and closes stores across North America, Europe, Africa, and the Middle East. 

Mar 18, 2020 — 4:08pm
MDS
Save

Foot Locker pulls guidance for 2020 following store closures

 

 

Foot Locker pulls guidance as it shuts stores over coronavirus. The company has announced that it will pull down its guidance for 2020, a year in which it is expected to grow by 5% year-on-year. With the initial forecast for 2020, its revenue would rise to 8.4 billion dollars. Foot Locker’s sales exceeded the barrier of 8 billion for the first time in its history in 2019. Its net profit, however, contracted 7.9 %, up to 498 million dollars. 

 

Foot Locker joins other fashion retailers with store closures. The resolution to closes stores will affect all countries in North America, Europe, Africa, the Middle East, and Malaysia. Only those in the Asia Pacific region will be exempt from this announcement, this comprises Australia, New Zealand, Hong Kong, and Singapore. “Subject to direction from local and national governments,” the group said in a statement.    

 

Foot Locker currently has 3,129 stores in 27 countries, in addition to another 130 franchised locations in the Middle East and nine licensees under the Runners Point format in Germany. The measure also includes these store formats. 

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...