Is Foot Locker's 'Lace Up' Turnaround Plan Falling Short?
Even good long-term plans can come under pressure because of short-term headwinds. But investors appear to be in a "show me" mood with regard to Foot Locker (NYSE: FL). That's a problem for the sneaker retailer, given that its big turnaround effort is off to a rough start.
Here's what investors need to know.
Foot Locker is working on what management dubs the "Lace Up" plan. The big-picture goals are to expand sneaker culture, power up the portfolio, deepen relationships with customers, and become a best-of-breed player in omnichannel selling. Those are kind of vague, but reading into the list a little, it is probably appropriate to summarize the retailer's goals as wanting to resonate more with sneaker buyers, offer more on-trend products, and improve financial results. Pretty normal turnaround fare.
Source Fool.com
