Foot Locker Plans to Close Majority of Its Footaction Stores

Foot Locker Inc. logged a solid start to the fiscal year as it works to reposition its brick-and-mortar fleet and shut down the majority of stores under its Footaction banner. In the first quarter, the retailer logged comps that surged 80.3%. It announced, in tandem with the financial report, that it plans to convert roughly a third of its Footaction stores into "other existing banner concepts" over the course of the year to "focus growth on its iconic banners."