The Fourlis group aims to increase net sales in its sporting goods division to €320 million by 2029, from €221 million in 2025, accelerating Foot Locker’s expansion in south-east Europe and restructuring its Intersport network with a focus on profitability.
The plan envisages average annual sales growth of 9.3%, compared with estimated market growth of 2%-3%, and an increase in the operating EBIT margin to 4% in 2029, from just 0.3%-0.6% this year.
Foot Locker is the main growth driver, with its store network set to expand from 21 to 45 by 2029. The chain is scheduled to enter Cyprus in the second quarter of next year, while Croatia — a market with strong demand for sneakers and sports fashion — is a focus of plans for the fourth quarter.
According to management, 79% of forecast growth will come from expansion, underlining the importance of successfully developing new stores to meet the financial targets.
Despite sales growth of 22% in 2025, profitability remains under pressure. Management attributes the low operating margins mainly to difficult conditions in the Romanian market and the cost of expanding Foot Locker.
New stores currently account for more than 50% of Foot Locker’s business, but have yet to complete a full 12 months of operation.
Romania is expected to remain under pressure, with a gradual recovery in 2028-2029, while the target is to significantly expand the network.
Intersport restructuring and investment in AI
At Intersport, the plan includes closing loss-making stores, making selective new investments and refurbishing locations with greater potential to deliver returns. The group is also investing in artificial intelligence applications to forecast demand and optimise inventory by store, product and size, with the first results expected in the middle of next year.
On the commercial side, Intersport is strengthening its exclusive brands McKinley, Firefly and Energetics, to respond to pressure on disposable incomes. Foot Locker, meanwhile, is increasing its exposure to Hoka, On, New Balance and Asics in an effort to offset Nike’s negative comparable-sales performance. More than 20% of Foot Locker’s available styles and products are exclusive.
Intersport’s B2B business is also a new source of growth, supported by a five-year exclusive merchandising agreement with the Hellenic Football Federation and plans to pursue new partnerships with professional clubs. With an 18% market share in Greece and an overall 8% share across the four markets where it operates, the group sees significant scope to expand beyond its home market.