The Foot Locker management team led an investor meeting Monday to discuss recent successes as well as provide a look into the future plans of the company. Here are five of the major talking points discussed at the meeting.
1. Inside the Company’s Growth
The management team, led by Dick Johnson, president and CEO of Foot Locker, outlined the current state of the company and recent successes. Johnson proclaimed that the company, through its 2012-16 plan, has been able to make the storefronts and websites more exciting and relevant. It has experienced growth in the kids and women’s markets and made advancements in hiring systems and training programs for the retail teams.
2. Women’s, Kids’ Focus
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Looking to the future, the Foot Locker management team said the company would be more active in the kids and women’s markets. Regarding women’s specifically, “It’s a hot market led particularly by apparel. But it’s not a fad,” said Lauren Peters, EVP and CFO of Foot Locker. The main goal of Foot Locker is to expand its Six:02 primary women’s brand. There are 15 Six:02 storefronts and the company hopes to open another 20 this year.
To cater to the kids’ market, Foot Locker will aim to create a full-family experience –both in stores and online– that will connect with kids, specifically between the ages of 4-11. The full-family experience will include the addition of more fun and informational content for both kids and parents, create strong relationships with community organizations such as the Boys & Girls Club of America, and build on their running, basketball and apparel objectives.
3. Social Media, Mobile Marketing Efforts in the Spotlight
Foot Locker aims to have a 360-degree marketing plan. Moving forward, the firm aims to have a greater presence on all social media platforms with the idea of increasing two-way dialogue with customers. It will also up its focus on analytics and have a stronger mobile presence.
4. Build a More Powerful Digital Business
Foot Locker’s online plans are moving forward and will incorporate more than just a strong social media and mobile push. The company plans on creating an engaging and personalized overall digital experience by investing in a multitude of technology platforms. To accomplish this, Foot Locker will test its sites to ensure peak performance and figure out the best ways to present product. The company will also focus on cross-divisional opportunities, where customers can essentially “shop within a shop.” An example of this is the effort to make Eastbay, the online store geared towards younger serious athletes, being visible in Champs locations via their own section known as the Eastbay Performance Zone.
5. European Reach
The goals of the company aren’t just domestic. “Europe is important to is and we believe we can still aggressively pursue expansion opportunities,” Johnson said. To capitalize on the market abroad, Foot Locker will take its banners and spread them across European nations to best fit each market. A main focus of the European expansion will be to thoroughly expand their running and lifestyle banners –Runners Point and Sidestep, respectively– as well as the basketball banner House of Hoops.