News

Sep 26, 2023

Foot Locker to offload Marble Arch store

Foot Locker is marketing its shop in Marble Arch following poor trading at the

Foot Locker is marketing its shop in Marble Arch following poor trading at the store.

The two-storey shop opened back in July 2018 and had a rent of £1.9m each year. The London based store is also thought to still have five years remaining on its lease, Drapers reports.

The business is also understood to be attempting to offload the lease of its Solihull-based store, according to the publication.

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Back in January Foot Locker made cuts to its staff, which it expects will save the business approximately £18m in annualised costs beginning in its 2023 financial year.

The footwear retailer said it would cut "a number of corporate and support roles" to enhance its operational efficiency and streamline the business.

The sportswear company is also winding down its Sidestep banner in Europe.

In May, the retailer cut its profit guidance and sales for the year, after it revealed a 11.4% sales dip for the three months ended 29 April.

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