The news came as Foot Locker reported a 1.9% uplift in sales to 1.7 billion euros for the second quarter, with comparable sales also up 2.6%. However, its net loss widened to 11 million from 4,5 million last year.
The company’s exit from several international markets is planned to simplify Foot Locker’s business, after the retailer already announced it would close 400 stores by 2026, ditch a planned expansion into Japan and shutter two European joint ventures.
The company also plans to transfer operations in Greece, South East Europe and Romania to a licensing partner, Fourlis Group. This partnership would then allow the retailer to focus on store and e-commerce expansion in the SEE region.
