Bodega Hits A Wall, Foot Locker CEO Whispers And Acadamy Sports Details Jordan Allocation
Earnings: Nike and Lululemon
Bodega Teeter Tottering
Add Boston-based Bodega to the list of sneaker boutiques going through tough times. Following news last week that founder Dan Natola was leaving the business, owner Jay Gordon told SneakerFeaker that he laid off the entire staff and had come close to closing the entire operation.
Earlier this year, Bodega shut its famed Boston location meanwhile the online store was closed lasat week and replaced with a message reading “Intermission.” Gordon told the publication that he plans to keep the L.A. and online store open with the help of “a very small and dedicated team.”
Natola credits Nike with keeping hope alive. “I was planning to shut down all operations last Friday, until a conversation with a friend at Nike. They said they would still find a way to support us and help us get back on our feet. It was such a kind gesture, and one I'm not sure I would have made in their place,” said Natola.
Comments on the retailer’s social media accounts are filled with customers complaining about unfulfilled orders. I’m told that Bodega uses Bergen Logistics to fulfill orders, and when the retailer ran into trouble paying its bills, the company stopped sending orders to customers.
Like a lot of retailers in the boutique space, Bodega had an awesome 2021, but began running into cash flow issues with the loss of Yeezy in late 2022 and a slowdown in demand for Nike and Jordan product in 2023 and 2024.
C-Suite Chatter At Foot Locker
Things are getting weird at Foot Locker where Franklin R. Bracken, executive vice president and chief commercial officer of Foot Locker, has been appointed president, effective immediately. He will be responsible for driving the Lace Up Plan.
Leaving aside the disaster the stock market has been since Donald “Tariffs” Trump took office, Foot Locker is down close to 50% versus a year ago and is down 35% versus five years ago.
The change has spurred chatter about the future of CEO Mary Dillon, who, according to reporting by Footwear News, has a contract that runs from August 19, 2022, through January 31, 2026, and will automatically renew for one year unless either Foot Locker Inc. notifies Dillon, or she notifies the company at least 180 days before the end of her contract (August 4, 2025) that they intend to end the employment agreement.
Williams Trading analyst Sam Poser thinks “underwhelming” guidance will spur further C-suite changes. “Based on our checks, Bracken is regarded as an improvement from Dillon, but would be the first choice of few,” Poser wrote.
In some ways, I feel for Dillon. She joined Foot Locker at a time when its relationship with Nike was at an all-time low—a stretch that caused real damage, even if things have started to improve. It’s a stark shift from her former role as CEO of Ulta, where the company had leverage in brand relationships. At Foot Locker, the power dynamic is flipped: one brand holds all the cards.
Nike Opens The Spigot At Academy
During Academy Sports and Outdoors Q4 earnings report, the Katy, Texas-based Academy Sports provided some details on plans for brand expansion with Nike and Jordan. The 301-store retailer has had a Nike account but until recently didn’t have Jordan allocation.
“We're expanding our partnership with Nike. And in April of this year, we will do our biggest new brand launch in the company's history with the introduction of Jordan brand into 145 stores and online. We plan to launch the brand in late April with shops in men's, women's, and kids' that integrate apparel, shoes, and accessories into a cross-merchandise shop,” said CEO Steve Lawrence.
Lawrence later noted that the effort with Jordan would be focused on performance product rather than Retro silhouettes. “We're going to be the place where you're going to buy your Jordan Jumpman cleats or basketball shoes. We're not going to have some of the kind of retro limited-edition release,” said Lawrence.
As boring as Jordan sport may sound, it could potentially work out for Academy in the cleat category. According to Elden Monitors, which tracks Nike and Jordan’s online sales, Jordan is planning to open up launches of cleats in Retro colorways that have been spotted on players but haven’t been available at retail.
“More OG Jordan retros coming in cleat form,” commented Elden Monitors founder Romeo on X. “We've seen Nike drop the Oxodized Green 14s as golf shoes and [it has] been heavily pushing Jordan 1 Mid and Low cleats for a while; [it has] a Fire Red AJ4 cleat coming too.” Romeo said that expanded cleat offerings will also include new versions of Kobe cleats.
Additional News…
In an interesting exchange with Complex Editor in Chief Aria Hughes, British designer Mowalola revealed she is working on a Crocs collaboration, among other items. She also spoke about “Dirty Pop,” a collection she presented in fall 2024 that included multiple controversial pieces.
Keep reading with a 7-day free trial
Subscribe to Snobette News to keep reading this post and get 7 days of free access to the full post archives.