Foot Locker's Billion Dollar Acquisition Spree

Issue 82

Foot Locker has decided to expand after the COVID-19 pandemic brought shoppers out of stores and moved online. The company, which previously consisted of stores located in shopping malls, will be purchasing California-based WSS for $750 million and the Japanese company Atmos for $360 million in hopes to expand the company’s customer base as well as shopping mediums.

By acquiring WSS, Foot Locker is expected to obtain a largely Hispanic consumer base while also acquiring 93 stores across California, Texas, Arizona, and Nevada. Atmos Will have 49 stores of its own within Japan and both companies will continue to operate with their original names and products.

Source: CNBC