Foot Locker to elevate two New York City flagship locations

By

Obi Anyanwu

Published
May 23, 2016

Foot Locker revealed on Monday plans for its New York City retail locations.

 
The footwear retailer during the first quarter closed two stores in New York City at 34th Street below its former headquarters and in Times Square. The company will put its capital spending this year towards elevating its two flagship stores in Midtown, Manhattan.
 
Foot Locker’s 34th Street location will reopen for back-to-school and its Times Square store will not open until the holiday. Both stores will remain closed in the second quarter. In regards to the two closed stores, Foot Locker Chairman of the Board and CEO Richard Johnson said:

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“They certainly are having an impact and we are looking forward to the opening of two significant flagships here in Midtown Manhattan. We will manage the business through their closures obviously. We are running down for the month as we expected, but we will shift to being comp positive certainly as we get through the soup launch over Memorial Day.”
 
The New York City store closures are two of the 19 store closures made in the first quarter. The company also opened 32 new stores and remodeled or relocated 55 stores. As of April 30, 2016, The New York City-based retailer operates 3,396 stores in 23 countries in North America, Europe, Australia, and New Zealand.