Struggling Foot Locker finds new life with a surprising buyer
The iconic sneaker chain is getting a shot at redemption
Foot Locker ( (FL) ) was once the heart of sneaker culture — a place where new drops sparked lines around the block and shoppers could count on expert help from its iconic “Stripers.”
But in recent years, the buzz has faded. Foot Locker has been closing stores, facing declining foot traffic, and struggling to stay relevant in an industry increasingly dominated by digital players and direct-to-consumer brands.
Related: Nike, rivals sound alarm on looming threat
In an era when Nike has pulled away from wholesale partners and Gen Z shops sneaker drops on StockX and TikTok, Foot Locker’s role has looked more and more unclear.
