Foot Locker plans to close about 400 lower-performing stores by 2026 and around 125 of its Champs Sports locations in 2023, the company announced on Monday. The move is part of Foot Locker's new strategic outlook, dubbed the "Lace Up Plan." Executives detailed the strategy, which includes a focus on new concept stores, during the New York-based company's Investor Day presentation. Foot Locker currently has around 1,300 stores located in malls in North America and the company expects to close more than 400 of those by 2026. "These 400 stores represent nearly 10% of our total sales, but they also average 800 basis points less in profit than the rest of the chain," Tony Aversa, SVP of Global Store Development said during the presentation. MORE: https://www.wtsp.com/article/news/nation-world/foot-locker-store-closings/507-33438409-40b4-4626-b622-84a0735797c6 ►Subscribe: https://on.wtsp.com/youtube ►Website: https://www.wtsp.com/ ►Facebook: https://facebook.com/10TampaBay ►Twitter: https://twitter.com/10TampaBay