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Foot Locker Acquires WSS for $750 Million

Foot Locker Inc. announced that it has completed its acquisition of Eurostar, Inc., the parent of the WSS chain, for $750 million in cash.

Richard A. Johnson, Chairman and CEO, Foot Locker, said: “WSS is a highly complementary addition to our portfolio, and we are excited to officially welcome its team to the Foot Locker family. WSS brings an expanded and differentiated customer base rooted in the rapidly growing Hispanic community, diversifies and enhances our product mix and strengthens our footprint with a 100 percent off-mall store fleet located in key markets. We look forward to building on WSS’ deep community connections as we accelerate its growth and drive significant additional long-term value for our shareholders.”

WSS will maintain its name, operating as a new brand within Foot Locker’s portfolio and Foot Locker said is committed to developing the WSS team to continue to drive the organization’s success.

Read the source article at SGB Media Online

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