US footwear retailer Foot Locker will withdraw from Hong Kong and Macau while letting its distributor in Indonesia and the Philippines, MAP Active, take over its operations in Singapore and Malaysia
The footwear giant says the move, part of its efforts to “simplify its business model and focus on core banners and regions, will further grow its presence in Southeast Asia.
Foot Locker entered the Philippines late last year, opening one of the biggest stores in Asia at Makati City’s Glorietta shopping mall. The brand was reportedly in talks with footwear company Metro Brands to expand into India.
Foot Locker will continue to operate stores in South Korea.
As of January 28, Foot Locker operated 2714 stores in 29 markets and had 159 franchised stores in the Middle East and Asia.
Foot Locker will shut more than 400 underperforming stores in the US as part of a “reset” strategy. It had closed 101 stores during the fourth quarter of last year.
Foot Locker’s sales were down by 0.3 percent on year to $2.334 billion during the fourth quarter. The company expects to increase its annual turnover by $1 billion to $9.5 billion by 2026.


Trump Attends Super Bowl Amid Cheers, Boos, and Political Divide
Nvidia Nears $20 Billion OpenAI Investment as AI Funding Race Intensifies
AMD Shares Slide Despite Earnings Beat as Cautious Revenue Outlook Weighs on Stock
Locked up then locked out: how NZ’s bank rules make life for ex-prisoners even harder
Trump Signs Executive Order Threatening 25% Tariffs on Countries Trading With Iran
Columbia Student Mahmoud Khalil Fights Arrest as Deportation Case Moves to New Jersey
Trump’s U.S. Open Visit Delays Final, Fans Face Long Security Lines
Global PC Makers Eye Chinese Memory Chip Suppliers Amid Ongoing Supply Crunch
The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated
Missouri Judge Dismisses Lawsuit Challenging Starbucks’ Diversity and Inclusion Policies
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate
Trump Threatens Stadium Deal Over Washington Commanders Name
Office design isn’t keeping up with post-COVID work styles - here’s what workers really want
TSMC Eyes 3nm Chip Production in Japan with $17 Billion Kumamoto Investment
Ford and Geely Explore Strategic Manufacturing Partnership in Europe
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 



