As the company looks to diversify its assortment of footwear brands, they have revealed better-than-expected third-quarter results.
In her first earnings call with analysts, Mary Dillion, who took the reins as Foot Locker CEO in September, said she remains committed to the company’s brand diversification efforts, noting that it is under-penetrated in virtually all the brands it carries.
“We continue to see opportunities to bring the customer a broader and richer set of product offerings across brands and categories,” she said. “And we believe our third quarter results are further evidence that our efforts to broaden our portfolio are driving growth across multiple brands and helping us expand our customer base.”
Dillon said she is also looking for ways to “simplify” the Foot Locker business in an effort to “make sure we’re focused on the areas that have the most strategic value and will generate the most return.” To that end, the company has paused its plan to expand in Japan and is winding down two of its European joint ventures.
