Foot Locker reveals staff cuts on wind down of Sidestep Europe ops, top exec departs
U.S. specialty footwear retailer Foot Locker announced in a regulatory filing on Thursday that Andrew Gray, EVP, global lockers and Champs Sports, had left the company, effective January 23.
Gray had been with Foot Locker since 2001. His past roles include EVP and global chief commercial officer, and GM and chief merchandising officer, North America.
The New York-based company has also decided to wind down its Sidestep banner in Europe and eliminate some corporate and support roles. Foot Locker said the Sidestep closure is “consistent with the company’s broader efforts to focus on its core and growth banners," according to the filing, and the elimination of jobs is “part of streamlining the organization and enhancing operational efficiency.”
As a result of the role eliminations, the company expects to realize cost savings of approximately $18 million on an annualized basis beginning in fiscal 2023.
The job cuts come after Foot Locker's string of executive changes last year. Over the summer, the retailer tapped Mary Dillon as CEO, replacing Dick Johnson, before CFO Andrew Page announced he would step down as CMO, in November following Foot Locker’s fourth quarter 2022 earnings report to pursue other opportunities.
Before that, Jed Berger left in September to join Kenneth Cole as president.
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