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Foot Locker built its name as a destination for sneakerheads, a word the retail industry uses for dedicated collectors who follow limited-edition releases and brand drops rather than shopping by price.
That identity is now a liability. Dick's Sporting Goods, which acquired Foot Locker last year, is working through a different kind of problem: the chain has too many shoes it cannot move.
The short version of what happened is a brand reversal. A store famous for selling product that sells out has become a store trying to get rid of old inventory. Those two things are not a matter of degree.
They describe opposite businesses, and the gap between them is where Dick's Sporting Goods now finds itself. Clearing old inventory usually means discounting.
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