News

Americans are swapping out their high heels for comfort shoes like Birkenstock and Crocs at record rates, as the pandemic continues to obliterate fashion as we knew it

Consumer demand for high heels has plummeted during the pandemic, as Americans trade in their dress shoes for comfortable footwear like sneakers, slippers, and slides. According to data from market research firm NPD Group, dress shoe sales fell by a whopping 71% year-over-year during the second quarter of 2020. The […]
Americans are swapping out their high heels for comfort shoes like Birkenstock and Crocs at record rates, as the pandemic continues to obliterate fashion as we knew it
Markets

Foot Locker craters as earnings and same-store sales come up short

Foot Locker shares plunged on Friday after the sneaker retailer missed expectations for both earnings and same-store sales. The company’s shares were down nearly 17%. Watch Foot Locker trade live. Foot Locker shares dropped nearly 17% after the sneaker retailer reported earnings and same-store sales that were below expectations. Same-store […]
Foot Locker craters as earnings and same-store sales come up short
Markets

Air Jordans are cool again — and Foot Locker is the way to play it, analyst says

Nike reported strong second-quarter earnings Thursday and CEO Mark Parker gave credit to its Jordan Brand, which returned to healthy growth in North America. The Jordan Brand’s growth highlights how Nike has “successfully recalibrated its inventory positioning,” Jefferies said. The firm sees Foot Locker as a prime beneficiary of Nike’s […]
Air Jordans are cool again — and Foot Locker is the way to play it, analyst says
Markets

Foot Locker beats big on earnings

Foot Locker beat on both the top and bottom lines. Its gross margin fell and expenses rose as it built out its digital operations. Shares were up more than 15% after the news. Watch Foot Locker trade in real time here. Foot Locker posted first-quarter results Friday morning that easily […]
Foot Locker beats big on earnings
News

Foot Locker is closing 110 stores as the retail apocalypse rages on

Foot Locker announced on Friday that it plans to close approximately 110 stores this year. The retailer has been a victim of the retail apocalypse, closing 147 stores in 2017. “The disruption that has characterised the retail industry recently is not going away,” Foot Locker CEO Richard Johnson said Friday. […]
Foot Locker is closing 110 stores as the retail apocalypse rages on