Michael Le With the rise of e-commerce — which saw exponential growth across 2020 and beyond — many have speculated what the future of retail might hold. And while previously considered to be “dying,” the industry has not yet crippled under its own weight, with many quickly making their way back to brick-and-mortar stores once the world began to open up. Malls, however, tell a very different, very unfortunate story, as the former hallmark of suburbia has turned into a desolate and depressing cluster of shuttered outlets and department stores hanging on by a thin, frayed thread.
Foot Locker, a directory highlight arguably second to the likes of Auntie Anne’s, is more than aware that malls are a dying breed. And in response, they’re beginning to shift away from large shopping complexes in favor of standalone experiences. By 2026, the company will reportedly close around 400 mall locations — in addition to underperformers — subsequently replacing them with a new format of retail. According to Crain’s Detroit Business reporter Jay Davis, Foot Locker has already begun this initiative, shuttering sites at the Lakeside Mall and Eastland Mall before opening a large-scale store across the street.
What’s more, Foot Locker will continue to cultivate their partnership with Nike, the company’s “largest brand partner” according to CEO Mary Dillon. Dillon adds that her and the team have “spent a great deal of time with Nike revitalizing [their] partnership,” with results expected to be seen by the Holiday Season.
For more on this store as it unfolds, keep it locked in right here, as updates are to be added as further information surfaces.
Source: Matthew Kish, Sportswear Reporter for Business Insider / Jay Davis, Reporter at Crain’s Detroit Business
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