UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): January 26, 2023 (
(Exact name of registrant as specified in charter)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of |
Certain Officers; Compensatory Arrangements of Certain Officers.
Andrew I. Gray, a named executive officer, ceased to serve as Executive Vice President, Global Lockers and Champs Sports of Foot Locker, Inc. (the “Company”), and departed from the Company, effective January 23, 2023.
| Item 7.01. | Regulation FD Disclosure. |
The Company has also made the strategic decision to wind down its Sidestep banner in Europe, consistent with the Company’s broader efforts to focus on its core and growth banners.
In addition, as part of streamlining the organization and enhancing operational efficiency, the Company eliminated a number of corporate and support roles. As a result of these role eliminations, the Company expects to realize cost savings of approximately $18 million on an annualized basis beginning in fiscal 2023.
The information contained in Item 7.01 of this Form 8-K shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly provided by specific reference in such a filing.
| Item 9.01. | Financial Statements and Exhibits. |
| (d) | Exhibits. |
| Exhibit No. | Description | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| FOOT LOCKER, INC. | |||
| Date: January 26, 2023 | By: | /s/ Sheilagh M. Clarke | |
| Name: | Sheilagh M. Clarke | ||
| Title: | Executive Vice President, General Counsel and Secretary | ||