The recognizable retail brand will be having a smaller footprint in some shopping malls, as it plans to close underperforming stores.
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The company wants to reimagine its brand and become more relevant to younger shoppers, especially "sneakerheads".
Foot Locker will mark its 50th anniversary next year.
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The company says its new store and marketing concept is called "lace up," which will focus on different types of sneaker shoppers.