Foot Locker Promotes CCO Franklin Bracken to President in Effort to ‘Accelerate’ Its Lace Up Plan
Stephen Garner
Senior Editor
Foot Locker, Inc. has promoted Franklin Bracken to the role of president, effective immediately.
Bracken, who most recently served as executive vice president and chief commercial officer at the retailer, will continue reporting to Mary Dillon, Foot Locker’s chief executive officer.
In his new role, Bracken will work alongside Dillon to accelerate the execution of the Lace Up Plan, Foot Locker’s strategy announced in 2023 to elevate the omni-retail experience, enhance productivity, and create long-term shareholder value. Bracken will also continue to oversee global retail operations, merchandising, marketing, digital, loyalty and real estate, the company noted.
Bracken said in a statement he is focused on delivering on the company’s long-term goals.
Watch on FN
“We remain committed to expanding sneaker culture and elevating the omnichannel experience for our customers and brand partners, and I’m confident our proven consumer-focused initiatives will further deepen customer engagement, strengthen our market position, and drive meaningful business results,” Bracken said.
The executive joined Foot Locker in 2010 and has held several senior leadership roles of increasing responsibility across the company. During his tenure, he has led the expansion and elevation of Foot Locker, Inc.’s core banners such as Kids Foot Locker, Lady Foot Locker, Champs and most recently WSS.
The company noted that during his tenure he has led the globalization of the Foot Locker brand with unified global standards, and the revitalization and diversification of its brand partnerships. He also spearheaded the company’s omnichannel strategy – advancing digital capabilities, modernizing stores, and transforming the customer experience through a consumer-first approach.
Prior to Foot Locker, Inc., Bracken held senior management roles at The Coca-Cola Company, SABMiller, and began his career as a management consultant at PricewaterhouseCoopers.
“We are delighted to recognize Frank’s leadership and valuable contributions to Foot Locker, Inc. with this appointment,” Dillon added. “Over his 15-year tenure, Frank has led several important initiatives across the business, including playing a critical role in the development and execution of our Lace Up Plan, building our brand partnerships, and advancing our omnichannel capabilities. I look forward to continuing to partner with him in his new role as we execute our strategies, further our significant progress in advancing the Lace Up Plan and create sustained value for our stakeholders.”
Earlier this month, Foot Locker said that it delivered fourth quarter results above its previously revised expectations, as the company noted that investments and execution drove positive comparable sales and “meaningful” gross margin improvement compared to the prior year.
Total sales in the fourth quarter of 2024 were $2.24 billion, down 5.8 percent from $2.38 billion the same time in 2023. Net income from continuing operations was $55 million, as compared with net loss of $389 million in the prior-year period.
For the full fiscal year of 2024, Foot Locker said total revenue was $7.99 billion, down from $8.17 billion in fiscal 2023. Net income from continuing operations in the year was 18 million, up from a $330 million loss last year.
Looking ahead, the company expects sales for fiscal 2025 to range between a 1 percent decrease and a 0.5 percent gain, with comparable sales to increase between 1 percent and 2.5 percent.
