is this a good introduction for a narrative memo:$$This document is focused on the Foot Locker$$s declining sneakers sales over the past few years. As the largest third$-$party distributor of sneakers for many of the biggest foot apparel brands, we have made several attempts at competing with our own private label since $2001.$ Over the past few years, we have seen a significant decline in sales, and specifically our private label not connecting well in the market. It is apparent, that as the industry evolved over time, we have never evolved with it and didn$$t identify the key indicators that has been leading to our declining sales.

Our focused was too much on commodity sneakers and being a third$-$part distributor, that due to this, we did not connect well with our customers with the marketing of our private label sneakers in a way that would demonstrate the product, and price. Our private label campaign has suffered vs other national brands, like Nike, Puma, and Adidas, and even the new brands of sneakers coming into the market, like Hoka. Based on how the industry is evolving, we need to get back to our original mission of$,$To inspire and empower youth culture, through our leading global retailers of athletic$-$inspired footwear and apparel." As we re$-$introduced in $2021,$ our own private label again, Lckr$,$ we need to be more strategic in our priorities, focus, and setting the course for profitability over the next $2-3$ years. Private labels like East$-$Bay and Champs, offer sneaker apparel that can be worn to and from all different sporting events and are intended to complement each other. This message needs to be communicated in a more effective way.

From our data analysis, we have identified the number one reason why we are losing market share. Companies are now strategically getting away from its third$-$party distribution and now focusing on a direct$-$to$-$consumer model, in both brick$-$and$-$mortar stores and online. This distribution model has been a large part of our sales over the last $20$ years. In addition, many of these companies are appealing to a certain customer base through different channels. Foot Locker needs to return to its original focus on what made us such a dominant sneaker store. As we roll out our private label of Lckr$,$ we need to offer a product that meets our customers$$ needs and provides excellent quality. In addition to quality, we need to increase brand awareness through social media as well as turning to sports athletes, musicians and other influencers to promote the product. With the cost of foot apparel rising, we need to offer a more affordable, yet trendy sneaker, and have it readily available for distribution either at a retail location or online. Finally, through key promotions and loyalty programs, we can retain our customers by cutting off many of our current and new competitors and increase our customer acquisition.

While returning to our key focus as we re$-$launch our private label, it is also important that we tie in and take a big step forward in our financial plan with our $$Lace Up$$ growth strategy. This program, as we align the two strategies, will allow us to simplify our overall operations of Foot Locker, focusing on our core private label and customer markets. The strategy will provide new footprint for our retail locations, transform our brand, and allow us to stay nimble to meet our customer needs and be truly all things sneakers and provide a competitive product to drive sustainable and profitable long$-$term growth for the company and shareholders.