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Foot Locker's CEO Explains The Importance Of Brick And Mortar Retail

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Foot Locker's CEO Explains The Importance Of Brick And Mortar Retail

Dick Johnson, CEO of Foot Locker, Inc. (NYSE: FL) was a guest on CNBC to talk about the importance of maintaining a strong retail presence.

According to Johnson, 90 percent of Foot Locker's customers interacts with the company digitally at some point during the shopping experience, yet the vast majority still feel the need to enter Foot Locker's brick and mortar stores to touch the products and feel the excitement.

"The store proposition is part of the equation for our customer," he said.

Under Armour's Poor Quarter, Promotional Landscape

Under Armour Inc (NYSE: UAA)'s stock plunged Tuesday after a poor fourth quarter miss which had some analysts turning bearish. Needless to say investors are now questioning if Under Armour's woes are company specific or extends to the entire category.

Johnson said his company is a seller of "sneaker culture" and Under Armour is one of several key partners and it will play a key role in its stores, especially the new 17,000 square foot store in Times Square that will soon open. He did, however, shy away from directly answering the question and noted that he will let Under Armour's executives speak for their own business.

Moving on to another pressing topic in many investors minds: discounting.

Johnson said his store sells sneakers at the high end of the spectrum so price is "way down" on their list of consideration for making a purchase. As such, the executive said discounting isn't really talked about within the industry.

 

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