{"id":184912,"date":"2021-11-03T12:00:49","date_gmt":"2021-11-03T12:00:49","guid":{"rendered":"https:\/\/www.theindustry.fashion\/?p=184912"},"modified":"2021-11-03T20:38:24","modified_gmt":"2021-11-03T20:38:24","slug":"foot-locker-acquires-japanese-footwear-retailer-atmos","status":"publish","type":"post","link":"https:\/\/www.theindustry.fashion\/foot-locker-acquires-japanese-footwear-retailer-atmos\/","title":{"rendered":"Foot Locker acquires Japanese footwear retailer Atmos"},"content":{"rendered":"

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>\n

The 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>\n

Richard 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>\n

The 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":"

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