Foot Locker buying two smaller retailers for $1.1B

Foot Locker is "buying two smaller retailers for a total" of approximately $1.1B in "separate cash deals." The acquisitions are of L.A.-based athletic retailer WSS for $750M and Atmos, a Japan-based streetwear and sneaker shop, for $360M "as soon as Monday." Buying WSS, which generated $425M in revenue in '20, "gives Foot Locker access to a large Latino customer base, an important and fast-growing demographic." WSS has 93 stores across the West Coast and Southwest U.S. Atmos, founded in Tokyo, "has developed a reputation with sneakerheads world-wide for its exclusive selection and collaborations with popular brands, including Vans, Adidas and Dr. Martens" (WALL STREET JOURNAL, 8/2).