Foot Locker makes $1.1 bln investment in smaller retailers

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Foot Locker makes $1.1 bln investment in...
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Foot Locker will buy two smaller shoe store chains for a total of about $1.1 billion in cash, the footwear retailer said on Monday as it looks to expand its business beyond malls and extend its reach in Asia.

The company is buying California-based WSS for $750 million and Japanese streetwear retailer Atmos for $360 million, it said in separate statements.

Pent-up demand for sneakers and athletic gear from US shoppers, as well as government stimulus have boosted Foot Locker’s sales this year, but the company has said it was looking to focus beyond malls whose traffic has been pressured by the...


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Article automatically added to our system on Tuesday, August 3, 2021

Foot Locker makes $1.1 bln investment in smaller retailers


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