Federal Reserve Probes Big Banks Over Private Credit Exposure Amid Growing Systemic Risk Concerns 
Lumentum Holdings Rides AI Wave With Order Book Filled Through 2028 
Oil Prices Rebound as Hormuz Disruptions and Middle East Tensions Rattle Markets 
China Set to Exit Deflation Cycle in Early 2026, ANZ Analysts Say 
BCA Research Warns U.S.-Iran Ceasefire Could Collapse, Maintains Cautious Equity Outlook 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
U.S. Futures Slip as Iran Ceasefire Uncertainty and CPI Data Weigh on Markets 
Bank of Japan Governor Signals Accommodative Stance Amid Negative Real Rates 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
China's Factory-Gate Prices Rise for First Time in Over Three Years Amid Global Cost Pressures 
Chalco Stock Surges as Q1 2025 Profit Forecast Jumps Up to 58% 
White House Warns Staff Over Insider Trading Amid Suspicious Oil Market Bets 
TSMC Posts Strong Q1 2025 Revenue, Riding AI Chip Demand Wave 
Chinese Brands Are Taking Over Brazil — And It's Just Getting Started 
Colombia and Ecuador Trade War Escalates With Retaliatory Tariffs 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Alibaba Shares Slide as Jefferies Slashes Price Target Over AI Spending and Business Losses 
Foot Locker is buying two footwear store chains in a strategic deal that cost $1.1 billion. The sportswear and footwear retail company headquartered in New York City is reportedly paying in cash.
CNBC reported that the shoe stores that Foot Locker is acquiring are the WSS, formerly known as Warehouse Shoe Sale, which is based in California, and the Japanese sportswear and sneaker boutique, atmos. The amounts to be paid for the deal are $750 million and $360 million, respectively.
Foot Locker said on Monday, Aug. 2, that it is making the transactions to expand its business and be able to reach the Asia-Pacific. It also wants to focus beyond the malls and have an online shopping line since the COVID-19 pandemic slowed down foot traffic in physical retail outlets.
It was mentioned that WSS owns 93 off-mall stores in California, Nevada, Texas, and Arizona, and its customers are mostly Hispanic. With WSS in its portfolio, Foot Locker is looking to tap into this group of consumers.
As for atmos, it has 49 stores in Japan, and it is well-known to sell special edition shoe collections. The footwear designs are mostly in collaboration with leading brands such as Nike. This will help Foot Locker attain its goal of expansion in Asia.
"atmos is uniquely positioned through its innovative retail stores, high digital penetration, and distinctive products that have made it a key influencer of youth and sneaker culture,” Foot Locker chairman and chief executive officer, Richard A. Johnson, said in a press release, “With atmos, we are executing against our expansion initiative in the rapidly growing Asia-Pacific market, establishing a critical entry point in Japan and benefitting from an immediate scale.”
In any case, despite the acquisition, both WSS and atmos will continue to do business under their own names but will be operating as a new banner in Foot Locker's portfolio. Finally, Foot Locker’s deal with the two shoe companies is expected to be completed within the third quarter of this year and is said to be subject to the satisfaction of customary closing conditions.
