Foot Locker<\/span><\/a> has completed the acquisition of Japanese digitally-led retailer Atmos in a $360m deal as it continues expand its portfolio this year.\u00a0<\/strong><\/p>\nThe deal, which is subject to certain customary adjustments, will see Atmos maintain its brand name while operating as part of the Foot Locker brand portfolio.<\/p>\n
Atmos currently operates a network of 49 stores worldwide, with 39 in Japan.<\/p>\n
Foot Locker said in a statement that it is committed to building on Atmos's strong foundation to propel the brand into its next phase of growth.<\/strong><\/p>\nRichard Johnson<\/span>, Chairman and Chief Executive Officer of Foot Locker, said: \"We are delighted to officially welcome atmos's iconic founder, Hidefumi Hommyo, and the entire atmos team to the Foot Locker family.<\/p>\n\"Atmos expands our global reach in the rapidly growing Asia-Pacific<\/span>\u00a0market, establishes a critical entry point in\u00a0Japan<\/span> and allows us to benefit from immediate scale.\"<\/p>\nThe US-based speciality athletic retailer expects Atmos to generate low double-digit sales growth annually and low double-digits to mid-teens earnings before interest, taxes, depreciation and amoritization (EBITDA) margins over the next five years and be accretive to earnings per share in fiscal year 2021.<\/p>\n
Footlocker also acquired athletic footwear and apparel retailer Eurostar (WSS) for $750m in August and while it revived its private apparel label since exiting the category three years ago.<\/p>\n
The company anticipates that its recent acquisitions of WSS and Atmos will be accretive to EPS in the range of $0.44<\/span>\u00a0to\u00a0$0.48<\/span>\u00a0per share in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":" […]<\/p>\n","protected":false},"author":99,"featured_media":185033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[10488,10585,6],"tags":[21620,13167,35,12419],"acf":[],"yoast_head":"\n
Foot Locker acquires Japanese footwear retailer Atmos - TheIndustry.fashion<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n