Can Running Brands Like Hoka and On Help Foot Locker Get Back on Track as It Recalibrates Nike Relationship?

March 7, 2024

Foot Locker’s financial results were weaker than expected in 2023, which prompted the company to delay its long-term sales targets by two years. The company has also begun to close about 125 underperforming locations of its Champs banner.

The retailer on Wednesday said its percentage of non-Nike brand sales in the fourth quarter grew to 40 percent, up from 37 percent in Q4 last year. That’s in line with a goal to have more than 40 percent of its brand mix be outside Nike by 2026. FN