Foot Locker sets $2.5B digital sales target

 

Foot Locker said it plans to boost its digital sales to $2.5B by 2026.

 The U.S. sportswear and footwear retailer's digital penetration is "trailing the broader market," according to Peter Scaturro, senior vice president of strategic planning and growth.

  • Foot Locker's $2.5B digital sales target would see digital sales grow to 25% of the retailer's total sales by 2026.
  • CFO Robert Higginbotham said at the company's investor day last week that the company plans to boost digital sales by boosting investment in core assets and simplifying its business model.
  • Chief Operations Officer Elliott Rodgers noted that Foot Locker's investment in digital technology has been "below the industry benchmark" for a decade.
  • He said that the company's "digital transformation" will make it more "agile" and improve its "processes and ways of working."
  • Foot Locker is in the process of updating its website to enhance search, navigation, product visuals, and personalized recommendations. 

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