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Report: Foot Locker to close more than 100 stores

An athletic retailer is planning more store closures.

The retailer plans to close the doors of approximately 110 stores this year, mostly under-performing locations, according to Business Insider.

In addition, the company will open about 40 new, high-profile stores. The closures will enable Foot Locker to reduce its exposure in "deteriorating" malls. Meanwhile, the new stores will help the company to rebuild its business and win back customers, the report added.

These new store closures augment the 147 stores that the retailer closed in 2017. The retailer also opened 94 new locations, bringing the retailer’s global store count to 3,310 locations.

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