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.