Foot Locker to Buy Two Retailers for $1.1 Billion

Foot Locker Inc. is buying two smaller retailers for a total of approximately $1.1 billion in separate cash deals, as the company looks to expand its reach beyond U.S. shopping malls. The New York-based company Monday announced the acquisitions of athletic retailer WSS for $750 million and Atmos, a Japan-based streetwear and sneaker shop, for $360 million. The Wall Street Journal earlier reported Foot Locker was close to making both deals. The acquisition of Los Angeles-based WSS, which generated $425 million in revenue in 2020, gives Foot Locker access to a large Latino customer base, an important and fast-growing demographic, Foot Locker executives said. Read more at The Wall Street Journal.