Foot Locker's exposure to Nike decreased to about 60% in 2024, down from 65% in 2022. Meanwhile, the company increased its ecommerce channel to approximately 18%. Despite these changes, Foot Locker's operating performance remains under pressure due to potential delays in Nike's turnaround plan. Foot Locker reported a free operating cash flow (FOCF) of $105 million in 2024, after two years of deficit. The company has been investing in brand strengthening and consumer experience enhancement, while also reducing its store fleet. In addition, the company has allocated more capital towards technology in recent years to compensate for previous underinvestment. The company's total sales fell by over 2% in 2024 due to about 113 net store closures and foreign currency headwinds. However, comparable sales increased by about 1.4% due to the continued execution of its Lace Up plan.