2. Foot Locker
Year Established: 1974
Store Closures: 117 Branches*
The bad news is that Foot Locker, a beloved sportswear brand, has revealed plans to close about 117 locations. Positive news? Since most of these stores are abroad, their US market and locations will mostly stay the same. But a store’s sales don’t always accurately reflect everything that’s happening there. Despite its impressive sales figures, Foot Locker is not without its challenges. A management transition is the cause of the closures. The new CEO of Foot Locker is reorganizing the company by laying off workers and cutting jobs.
2. Foot Locker
3. Target
Year Established: 1902
Store Closures: 13 Branches*
Target, a firm that was founded more than a century ago, continued to soar to worldwide prominence in the 2010s, emerging as one of Walmart’s main competitors in the retail industry. It was formerly known as Goodfellow Dry Goods, and the Target brand wasn’t adopted until 1962. By concentrating on online sales and aiming its marketing at consumers who are more sensitive of their appearance, Target has done a remarkable job of adjusting to the Internet era. Target intends to close roughly 13 locations through 2022 even if revenues are growing; nonetheless, more store openings are probably in the works.
3. Target
