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Nike confirms its continued operation with Foot Locker

By Nithya Bose in Business News, posted March 23, 2022

Nike confirmed its partnership with Foot Locker by stating the retailer will continue to market its merchandise.

The announcement came after the company’s earning call on Monday, March 21.

Nike’s executive leadership reviewed its wholesale and direct-to-consumer business prospect for the third quarter of the 2022 fiscal year.

CEO of Nike, John Donahoe said: “One other thing I just want to really reinforce because I think there was some confusion on this, that’s around Foot Locker."

He said: “To be crystal clear, Foot Locker always has been and always will be a large and important partner of Nike’s, and that will continue to be the case. And they’ll have a very distinct role in our marketplace strategy as a wholesaler, with a particular focus on the culture of basketball, on the sneaker culture and on kids, which is a really big and important opportunity for us. So just to be clear, they are one of our important partners going forward.”

His remark followed several false stories earlier this month that Nike was removing all its merchandise from Foot Locker.

It was claimed that the chain store suffered a significant financial loss after confirming that it will not sell as many Nike goods this year.

Foot Locker executive vice president and chief commercial officer Andrew Gray said: “We have a great relationship with Nike.”

“As we look towards the future together, we continue to see opportunities to build our basketball and kids businesses all while creating closer connections with sneaker-obsessed consumers all over the world.”

Source: Complex

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