Source: CNBC
Summary
Foot Locker is shutting down Champs Sports, a retailer it acquired in 2002. According to Telsey Advisory Group analyst Cristina Fernández, Champs differentiated itself from Foot Locker with an assortment of performance running brands. Foot Locker announced the closure of 413 Champs locations across the US and Canada. The company plans to focus on its core Foot Locker brand. The closure is part of Foot Locker’s efforts to revamp its business strategy.
Our Reading
The trend returns with a new name.
Champs Sports’ focus on performance running brands was a key differentiator in the market. The brand’s assortment was a major factor in its success. The closure of Champs Sports marks the end of an era for the retailer. The trend of performance running brands continues to be a major player in the market. Champs’ demise is a reminder that even the most successful brands can fall victim to the cycle of retail trends.
Author: Evan Null
