Foot Locker just announced they are closing another 110 stores this year.  What does this mean for the Crossroads Mall location in Portage?

They are also opening new stores.  This unusual move seems to be directly connected to the lack of Mall traffic according to businessinsider.com,

Foot Locker closed 147 stores globally in 2017. The retailer also opened 94 new locations, bringing the retailer's store count to 3,310 around the world.

"The disruption that has characterized the retail industry recently is not going away," Foot Locker's CEO Richard Johnson said on Friday. "Consumers want experiences, they want cool products, and they want it all — fast."

Johnson said that Foot Locker was working to reduce its exposure to "deteriorating" malls, as the retailer worked to rebuild its business and win back customers.

There is no word on which locations will be closing.  However, the statement above does make mention of slowing mall business.  It's been a rough couple of years for retail stores here in West Michigan.  I hope we'll find out that the Portage Foot Locker will remain open.

 


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