Foot Locker EVP departs with more job cuts to follow

New York-based footwear giant Foot Locker has announced that EVP, Global Lockers and Champs Sports, Andrew Gray has left the company, effective immediately.

Andrew Gray had been part of the Foot Locker team for over two decades, since 2001. His past roles at the company include EVP and Global Chief Commercial Officer, and North American GM and Chief Merchandising Officer.

The company also plans to wind down its Sidestep banner in Europe and slash several corporate and support roles.

Foot Locker said in its filing, the Sidestep closure is “consistent with the company’s broader efforts to focus on its core and growth banners."

According to a regulatory filing, 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 save approximately £14.6 million ($18 million) on an annualized basis beginning in fiscal 2023.

This aims to counter the troubling balance sheet. In Q4 of 2022, revenues fell -0.73% year-on-year to £1753 million ($2173 million).

Andrew Gray’s departure is the latest in a series of senior team changes at Foot Locker in recent months. In November 2022, the retailer announced the departure of CFO Andrew Page. Prior to this, it announced executive shifts including its CEO and CMO.