Stellar sales quarter after quarter and a winning consumer-focused strategy are among the many reasons Foot Locker Inc. is taking home the Company of the Year honor at this year’s FN Achievement Awards.
With an arsenal that includes more than 3,400 top-performing stores in 23 countries under nine major athletic-retail banners, Foot Locker has proven its ability to capture its target customer wherever and whenever they shop.
The retailer is not skimming on the digital front either.
Foot Locker launched its first free mobile app, with its signature Shoemoji feature, in April; debuted a fan-favorite partnership with Houston Rockets guard James Harden for the “Play My Tweet” challenge in September; and redesigned the websites for all of its banners in the last 12 to 18 months. To further bolster its omnichannel push, over the summer, the company tapped former Target Corp. executive Pawan Verma to be its SVP and chief information officer.
The firm continues to focus on driving performance in its core business and enhancing its position in five key areas: children’s, women’s, apparel, digital and Europe.
Foot Locker now has 168 House of Hoops stores in the U.S. and 28 internationally; five Puma Lab concepts; 34 Kids Foot Locker Fly Zone shops; plus eight Jordan Flight 23 shops at Footaction, including the new flagship on State Street in Chicago that opened in October. And Foot Locker’s budding Six:02 women’s concept was a key partner in the buzzy launch of pop star Rihanna’s collaboration with Puma this year.
In addition, the retailer continues to collaborate with other leading brands, such as Nike (Kicks Lounge and Jordan Flight 23); Under Armour (The Armoury); and Adidas (a-standard) for its popular in-store concepts.
Finally, as the broader industry struggles with elevated inventory levels and slumping forecasts into the holidays, Foot Locker continues to defy negative forecasts, ending its most recent quarter with a year-over-year inventory rise of just 0.9 percent compared with a 3.6 percent sales jump.
Past Footwear News Company of the Year winners have included Adidas, Skechers USA Inc., Steve Madden Ltd., VF Corp. and Caleres.
Stay tuned at Footwearnews.com for more award announcements, and click through the gallery below to see highlights from past FNAA awards ceremonies.