Foot Locker is revamping another 300 stores this year, following 400 store refreshes last year.

“Looking ahead, we will continue to prioritise our customer-facing investments, keep our inventories controlled, and manage our expense base with discipline to improve our profitability,” said Mary Dillon, Foot Locker president and CEO.

The announcement comes as Foot Locker disclosed it swung to a net income of US$12 million while its revenue decreased 2.2 per cent to $7.98 billion. Licensing revenue rose 21.4 per cent to $17 million.

For the current year, the company forecasts sales to range from a decline of 1 per cent to a rise of 0.5 per cent.

“While we expect consumer and category promotional pressures to remain uncertain into 2025, especially within the first half, our Lace Up Plan strategies continue to resonate with our customers and brand partners,” said Dillon.

“We started the year with one of our largest basketball activations in the company’s history at NBA All-Star 2025, underscoring how we are capitalising on our basketball leadership and our strong brand partnerships.”

“We are confident that our strategies and actions will enable us to achieve our growth expectations in 2025 and are committed to delivering sustainable shareholder value creation.”