Nike is not removing products from Foot Locker. We shared misinterpreted information earlier that has since been removed. We apologize for the misinformation.
Foot Locker stated in an earnings call last week that no single vendor is expected to represent more than 60% of its business this year. Nike accounted for 70% in 2021 and 75% in 2020. This is a result of Nike’s continuing shift to direct-to-consumer sales, which means Foot Locker will be carrying less volume of it’s best-selling Nike shoes. Foot Locker will still be selling Nike footwear and products and Nike in no way has cut ties with the retailer.