Foot Locker deals expand footprint in U.S. Hispanic markets and Asia [CBS News]
Foot Locker, Inc. (FL)
Last foot locker, inc. earnings: 2/28 06:45 am
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Source: CBS News
Hispanic markets and in the Asia-Pacific region. The New York-based company said Monday it's buying athletic footwear and clothing company Eurostar Inc. for $750 million. Eurostar concentrates on Hispanic consumers, running 93 stores in California, Texas, Arizona and Nevada. The company had approximately $425 million in fiscal 2020 revenue. Foot Locker also announced it's buying Text Trading Co., which owns and licenses a Japanese retailer called atmos, for $360 million. The transaction accelerates Foot Locker's Asia-Pacific expansion; atmos, with fiscal 2020 revenue of about $175 million, has 49 stores worldwide. "This acquisition enhances our product mix and provides access to a customer base and store footprint that are both differentiated from and complementary to our current portfolio," Foot Locker Chairman and CEO Richard Johnson said in a statement. Both deals are expected to close late in the third quarter. Foot Locker's annual sales hit an all-time high of $8 billion
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FL
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- 3/6/24 - Beat
FL
Sec Filings
- 4/11/24 - Form ARS
- 4/11/24 - Form DEFA14A
- 4/11/24 - Form DEF
- FL's page on the SEC website