Home Nike items Nike reduces the amount of products sold in Foot Lockers stores

Nike reduces the amount of products sold in Foot Lockers stores

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The streets are talking and there has been a lot of commotion from the sneaker community. When it comes to securing the latest releases from Nike, the options become limited as Nike has pulled some of its productions from Foot Locker. According to recent reports from Forbes, the change was supposed to happen since last year.

In 2021, 70% of Foot Locker’s sales were for Nike products, the retailer says in its 2021 public filings. This year will account for 60% of its merchandise purchases. Although people think that Nike is completely moving away from Foot Locker, we’re here to report that’s not true. Foot Locker will continue to sell Nike products, accounting for up to 55% of its merchandise purchases over the coming year.

A Foot Locker representative issued a statement to Forbes saying: “Nike is and will remain one of our most critical and crucial partners. We have no intention of not working with them. The effect of a limited supply of Nike items at Foot Locker has already suffered a massive loss for the business as news of the changes spread, with stock immediately plunging 30% and some recouping.

Foot Locker is already preparing to drop its sales between 8% and 10% this year. The New York-based company wants to expand offerings from other brands; Adidas, Puma, New Balance and Crocs. Last week, the company’s CEO, Richard Johnson, explained to analysts Nike’s changes, saying, “It’s a difficult dynamic to overcome.” Foot Locker isn’t the only retailer to take cuts from Nike.

Forbes also reports that since the Oregan-based company began cutting third-party sales, it has dropped many national retailers, including DSW, Zappos, Dillard’s, Urban Outfitters and Shoe Show.

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