New loyalty program transforms customer
experience with enhanced convenience and exclusive benefits; newly
redesigned mobile app to follow
NEW YORK, June 25, 2024 /PRNewswire/ -- Foot Locker, Inc.
(NYSE: FL) has unveiled an enhanced FLX Rewards program and
announced forthcoming upgrades to its mobile app, marking
significant milestones under its Lace Up Plan – the Company's
strategy designed to drive sustainable and profitable growth.
Informed by extensive consumer insights, the revamped FLX
Rewards program introduces FLX Cash, enabling customers to use
points towards a discount on purchases. It also offers a suite of
member-exclusive benefits, including priority access to highly
anticipated sneaker launches, exclusive sales, member-only events,
free returns, upgraded birthday gifts, and continued complimentary
shipping for members.
The program boasts a modernized aesthetic and simplified tier
structure, including:
- Xtra Savings: Members can now redeem points (100
points per $1 spent) for FLX Cash,
providing discounts of $5,
$10, or $20 off. Additionally, they gain access to
member-exclusive discounts and offers.
- Xtra Access: Exclusive opportunities such as sneaker
Launch Reservations, where members are first in line for the latest
drops from top brands, alongside access to exclusive events and
experiences.
- Xtra Perks: Members will
continue to benefit from free shipping with no minimums, along with
newly added perks such as free product returns. They'll also
receive an upgraded birthday gift designed to unlock their inner
sneakerhead, along with additional exclusive benefits.
Registration for the FLX Rewards loyalty program is now
open nationwide across the U.S., accessible in stores and
online without any purchase requirements. Following a successful
pilot in Canada in 2023, which saw
increased engagement with first-time redeemers, higher average
order values, higher units per transaction, and higher trip
frequency, Foot Locker aims to achieve 50% loyalty penetration by
2026, with a long-term goal of 70%.
"Our enhanced FLX Rewards program represents a significant step
in providing a seamless shopping experience for sneaker
enthusiasts. Aligned with our Lace Up Plan, we believe this
initiative strengthens our customer relationships and cements Foot
Locker's position as a leading omnichannel retailer," said
Mary Dillon, Foot Locker, Inc.
president and CEO.
Kim Waldmann, SVP and Chief
Customer Officer of Foot Locker, Inc., emphasized, "The launch of
our new FLX Rewards program underscores our commitment to
delivering a best-in-class omnichannel experience. As Foot Locker
upholds its legacy as the global leader in sneaker culture, this
new program provides our customers with the best in sneaker
inspiration, rewards and personalization."
Following the loyalty program rollout, Foot Locker plans to
introduce a redesigned mobile app later this year. This initiative
is a pivotal element of the Company's comprehensive omnichannel
transformation strategy. Key new features include:
- Real time launch updates: Introducing a "Heat Monitor"
to track and preview hype surrounding new product launches.
- Improved functionality: Upgraded search and filtering
capabilities and streamlined sign-in with biometric
authentication.
- Seamless integration with FLX: Members can seamlessly
view and manage their FLX Rewards ID, tier status, points balance,
and redeem rewards through a simplified dashboard.
In early 2025, Foot Locker will introduce "Store Mode" through
its mobile app, enabling customers to scan product SKUs in-store
and check availability, including sizes.
Foot Locker, Inc. continues to progress against its Lace Up
Plan, which was introduced in March
2023. To propel growth, these new developments align with
the Company's plan to "Deepen Relationships with Customers" and "Be
Best-in-Class Omni," both key pillars of the plan.
These initiatives also complement Foot Locker's recent unveiling
of its new retail concept at the Willowbrook Mall in Wayne, N.J., supporting another plan
imperative to "Power Up the Portfolio." This location has quickly
become one of its top-performing locations in North America, particularly in the women's
product category.
For more information on Foot Locker, Inc.'s initiatives and
latest developments, please visit www.footlocker-inc.com.
Media Relations - Foot Locker, Inc.
Dana Yacyk, Senior Director, PR
& Communications
mediarelations@footlocker.com
Investor Relations – Foot Locker, Inc.
Kate Fitzsimons, Senior Director,
Investor Relations
ir@footlocker.com
ABOUT FOOT LOCKER, INC.
Foot Locker, Inc. is a leading
footwear and apparel retailer that unlocks the "inner sneakerhead"
in all of us. With approximately 2,500 retail stores in 26
countries across North America,
Europe, Asia, Australia, and New
Zealand, and a licensed store presence in the Middle East and Asia, Foot Locker, Inc. has a strong history
of sneaker authority that sparks discovery and ignites the power of
sneaker culture through its portfolio of brands, including Foot
Locker, Kids Foot Locker, Champs Sports, WSS, and atmos.
Disclosure Regarding Forward-Looking
Statements
This press release contains forward-looking
statements within the meaning of the federal securities laws. Other
than statements of historical facts, all statements which address
activities, events, or developments that the Company anticipates
will or may occur in the future, including, but not limited to,
such things as future strategic plans, financial objectives,
financial outlook and other such matters, are forward-looking
statements. These forward-looking statements are based on many
assumptions and factors, which are detailed in the Company's
filings with the U.S. Securities and Exchange Commission.
These forward-looking statements are based largely on our
expectations and judgments and are subject to a number of risks and
uncertainties, many of which are unforeseeable and beyond our
control. For additional discussion regarding risks and
uncertainties that may affect forward-looking statements, see "Risk
Factors" disclosed in the Company's Annual Report on Form 10-K for
the year ended February 3, 2024,
filed on March 28, 2024. Any changes
in such assumptions or factors could produce significantly
different results. The Company undertakes no obligation to update
the forward-looking statements, whether as a result of new
information, future events, or otherwise.
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SOURCE Foot Locker, Inc.
