New York-based retailer Foot Locker has closed 117 stores and cut 120 jobs in a step to streamline its business under one management team due to the slow down of operations.
The retailer will reveal more of its strategic plan in early 2010, but that it should strengthen the retailer's overall brand position and improve efficiency.
With most of its stores located in the US, 117 stores due to close during the fourth quarter out of the company's 3,600 shops in 21 countries in North America, Europe and Australia.
