Foot Locker (FL): Sneakers That Can’t Go Uphill

There has been a slowdown in apparel spending within the retail sector. Are expectations low ahead of the upcoming Foot Locker (FL) earnings report? “Foot Locker (FL) is facing an uphill battle as a sneaker middleman as brands like Nike (NKE) are realizing that they can sell direct-to-consumer. In 2020, Nike comprised of 75% of footwear purchases at Foot Locker (FL) and that number is expected to drop to below 50%. Therefore, Foot Locker is trying to expand their partnerships with Adidas and Puma. Foot Locker consumer happiness social media mentions have dropped significantly as of late due to issues with their mobile app,” says LikeFolio’s Megan Brantley. Tom White and Kevin Hincks discuss the new Foot Locker CEO that previously came from Ulta Beauty.