Foot Locker announces two acquisitions
Athletic footwear retail group Foot Locker has announced two acquisitions on the same day.
First, it announced that it was acquiring a retailer called WSS for $750 million. WSS is a sports shoe retail group with more than 90 stores in California, Texas, Arizona, and Nevada.
It is especially popular among Hispanic consumers and achieved sales revenues of $425 million in its last business year. Approximately 80% of WSS’s sales last year came from customers who are members of its loyalty programme.
On the same day, August 2, Foot Locker announced that it was also acquiring Japanese group Atmos, this time paying $360 million. It has 49 stores globally, 39 of them in Japan.
Atmos generated sales of $175 million in 2020, more than 60% of which came from digital channels.
